“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 Reports Second Quarter 2012 Results
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