This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

USEC Reports Second Quarter 2012 Results

Stocks in this article: USU

“Our spending on American Centrifuge during the first half of the year kept this important project moving forward even as we worked with DOE to fund the RD&D program. Clearly this advanced technology expense had a substantial effect on our financial results, but we believe it was essential to providing a path for the successful commercial deployment of the technology.

“Our updated financial guidance reflects our expectation for better results for the remainder of 2012,” Welch said. “We now expect total revenue of nearly $2 billion and a gross profit of approximately $140 million. In addition, the cost-share arrangement for spending on the American Centrifuge will significantly offset future expensing of RD&D spending.”

USEC issued a separate news release today providing an update on the American Centrifuge project and the RD&D program.


Revenue for the second quarter of 2012 was $364.8 million, a 20 percent decline over the same quarter of 2011. Revenue from the sale of separative work units (SWU) for the quarter was $347.2 million compared to $330.3 million in the same period last year. The volume of SWU sales was virtually unchanged compared to the same quarter of 2011, but the average price billed to customers was 5 percent higher. For the six-month period, revenue in 2012 was $926.3 million, an increase of $91.4 million or 11 percent compared to the same period in 2011. Revenue from the sale of uranium was $3.6 million in both the second quarter and six-month period of 2012 compared to $81.8 million in the first half of 2011. Most of our inventories of uranium available for sale have been sold in prior years, and we expect this trend of significantly lower uranium revenue to continue.

Revenue from the contract services segment was $14.0 million in the second quarter and $37.6 million in the six-month period of 2012 compared to $56.3 million and $114.3 million in the respective periods of 2011. The decrease was due to a 98 percent reduction in contract services revenue at the Portsmouth site as work was transferred to a decontamination and decommissioning contractor for DOE over the course of 2011. Revenue in the segment is now dominated by our subsidiary NAC. Revenue by NAC decreased $3.6 million in the three-month period and increased $8.3 million in the six-month period primarily as a result of timing in sales related to NAC’s dry cask storage systems.

2 of 10

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs