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 Third Quarter 2012 Results

Stocks in this article: USU

USEC Inc. (NYSE:USU) today reported a net income of $4.5 million or 4 cents per share for the quarter ended September 30, 2012, compared to a net loss of $6.9 million or 6 cents per share for the third quarter of 2011. For the nine-month period of 2012, the company reported a net loss of $116.3 million or 95 cents per share compared to a net loss of $44.7 million or 37 cents per share in the same period of 2011.

Among the factors affecting financial results for the third quarter of 2012 was higher gross profit from the low enriched uranium (LEU) sector driven by the delivery of higher volumes of separative work units (SWU). Increased SWU volume reflects the variability of timing of utility customer orders that USEC and customers have advanced from later in 2012 and from 2013, as well as the continued implementation of the one-year program at the Paducah Gaseous Diffusion Plant to enrich depleted uranium as feedstock to produce low enriched uranium under a multi-party arrangement. The trend that began in 2011 toward lower uranium sales continued as there were no uranium sales during the third quarter as compared to $21.3 million in uranium revenue in the third quarter of 2011. Gross profit for the quarter was $37.5 million compared to $26.9 million in the same period last year.

Third quarter results were also affected by spending on the research, development and demonstration (RD&D) program for the American Centrifuge technology. Since the fourth quarter of 2011, USEC has expensed all American Centrifuge project costs, including interest expense that previously would have been capitalized. Advanced technology costs of $45.1 million and interest expense of $12.3 million in the third quarter of 2012, which together totaled $57.4 million, were partially offset by $34.6 million in other income that represents the Department of Energy’s share of the RD&D program.

1 of 11

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