Actions taken to-date related to our organizational structure resulted in workforce reductions at our American Centrifuge design and engineering operations in Oak Ridge, Tenn., the central services operations located in Piketon, Ohio, and at our headquarters operations located in Bethesda, Md. The reductions to-date involved approximately 50 employees, including two senior corporate officers. A charge of $0.4 million was incurred in the third quarter of 2012 for a total of $4.0 million in the nine months ended September 30, 2012, for one-time termination benefits consisting of severance payments, short-term health care coverage and immediate vesting of restricted stock and stock options for certain employees. Additional actions affecting employees to align the organization with our evolving business environment are expected.Selling, general and administrative expenses in the nine-month period of 2012 were $42.5 million, a decrease of $5.3 million over the same period in 2011, reflecting lower salary and other compensation costs and lower consulting costs as we move forward with cost reductions identified and actions taken in the second quarter.
USEC Reports Third Quarter 2012 Results
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