In a number of sales transactions, USEC transfers title and collects cash from customers but does not recognize the revenue until the low enriched uranium (LEU) is physically delivered. At June 30, 2012, deferred revenue totaled $139.4 million compared to $146.8 million at March 31, 2012. The gross profit associated with deferred revenue as of June 30, 2012, was $8.6 million.A majority of reactors served by USEC are refueled on an 18-to-24-month cycle, which 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.
USEC Reports Second Quarter 2012 Results
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