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

“I am pleased to report crisp execution in the third quarter of the RD&D program and the multi-party contract that has extended enrichment activities at the Paducah Gaseous Diffusion Plant,” said John K. Welch, USEC president and chief executive officer.

“We reported better financial results year over year with an improved gross profit, and finished the quarter with a cash balance just over $300 million. We reiterated our guidance for 2012 and expect to finish the year with a cash balance exceeding $200 million,” Welch noted.

“We are assembling and conditioning AC100 centrifuge machines for the RD&D program, installing service modules and preparing plant infrastructure and control systems for the demonstration cascade we will operate in 2013. We met the first two technical milestones, and we are hitting the interim performance indicators goals in a manner that reaffirms our confidence in the American Centrifuge technology and our ability to deploy it successfully.

“Our employees at the Paducah plant are meeting the financial and operational metrics we established for the agreements with Energy Northwest, Tennessee Valley Authority and the Department of Energy that extended enrichment at Paducah through next May. Our staff continues to focus on equipment reliability and plant operation at a high level of efficiency,” Welch said.


Revenue for the third quarter of 2012 was $570.5 million, a 52 percent increase over the same quarter of 2011. Revenue from the sale of SWU for the quarter was $559.5 million compared to $297.9 million in the same period last year. The volume of SWU sales increased 83 percent compared to the same quarter of 2011, and the average price billed to customers was 3 percent higher. For the nine-month period, revenue in 2012 was $1,496.8 million, an increase of $287.4 million or 24 percent compared to the same period in 2011. There were no sales of uranium in the third quarter and $3.6 million in the nine-month period of 2012 compared to $103.1 million in the nine-month period 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.

2 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