This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

USEC Reports Financial Results For The Fourth Quarter And Full Year 2011

For the full year, revenue was $1.67 billion, a decrease of $363.6 million from 2010. SWU volume declined 15 percent year over year reflecting the variability in timing of utility customer orders. The average SWU prices billed to customers increased 3 percent compared to 2010, reflecting the general trend of higher prices under contracts signed in recent years. The volume of uranium sold declined 53 percent and the average price billed to customers increased 20 percent. Revenue from the contract services segment was $209.1 million, a 25 percent decrease year over year due primarily to the completion of clean-up activities at the former Portsmouth GDP in September 2011.

In a number of sales transactions, USEC transfers title and collects cash from customers but does not recognize the revenue until low enriched uranium is physically delivered. At December 31, 2011, deferred revenue totaled $181.5 million, compared to $176.1 million at December 31, 2010. The gross profit associated with deferred revenue as of December 31, 2011, was $6.0 million.

A majority of reactors served by USEC are refueled on a 12-to-24-month cycle, and this can lead to significant quarterly and annual swings in SWU sales volume that reflects the mix of refueling cycles. Therefore, short-term comparisons of USEC’s financial results are not necessarily indicative of longer-term results.

Cost of Sales, Gross Profit Margin, Expenses and Other Income

Cost of sales for 2011 for SWU and uranium was $1.39 billion, a decrease of $232.1 million compared to 2010. The 14 percent change is a result of the decline in SWU and uranium sold, partially offset by higher unit costs. Cost of sales for SWU and uranium reflects monthly moving average inventory costs based on production and purchase costs. Cost of sales per SWU in 2011 was negatively impacted by higher purchase costs under the Russian Contract, higher per SWU production costs and the carry-forward effect of high costs in prior periods.

3 of 10

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.17 -0.48%
FB $117.84 -0.19%
GOOG $701.71 0.86%
TSLA $213.64 -4.00%
YHOO $37.04 2.90%


Chart of I:DJI
DOW 17,649.58 -1.68 -0.01%
S&P 500 2,049.63 -1.49 -0.07%
NASDAQ 4,719.8330 -5.8060 -0.12%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs