US Nuclear Corp. Announces 2017 Annual Financial Results
2017 Annual Highlights
- Total sales revenue of $3,070,646 , an increase of 46.4% compared to the previous year
- Gross profit for 2017 was $1,344,913, an increase of 72% compared to the previous year
- Profitable net income of $10,130
- Gross margin increased to 43.8% as compared to 36.9% the previous year
- General and administrative expense increased by 17.2% due to costs in developing and marketing new products, specifically the Drone-RAD UAV line
“We’re thrilled to report on a successful year in 2017 with total sales revenue growth of 46.4%,” commented Robert Goldstein, CEO of US Nuclear Corp. “The increase in revenue was due to robust sales of our signature air monitors to nuclear power plants in addition to the popular demand of our tritium air monitors, which included a large contract with the USAF. Gross margin is increasing as we finish R&D on several new products that are being brought to the market. Overall, 2017 was a very strong year for us, but we are not at our full manufacturing capacity yet and will focus our efforts in 2018 to increase volume even further by capturing more of the global tritium monitor market, focusing on business from new power plant and fusion development, and introducing our new products mentioned above.”
About US Nuclear Corp.
US Nuclear Corp is a fully-reporting, publicly traded company on the Over-the-Counter Bulletin Board, traded under the ticker symbol UCLE. The Company's operations are principally engaged through its subsidiaries, operating two leading nuclear radiation detection companies, Overhoff Technology Corp. and Optron Scientific Company Inc. The Company designs, manufactures and markets branded, full line radiation detection and specialized advanced tritium technology for the nuclear energy industry and for emerging technological processes such as Thorium and Molten Salt (MSR) reactor technologies both domestically and internationally to customers such as United States Government Agencies, the U.S. Military, Homeland Security, Scientific Laboratories, Universities, Hospitals, nuclear reactor facilities in the United States, China, Canada, South Korea, Argentina, Russia and others.
Safe Harbor Act
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations, estimates and projections and, consequently, you should not rely on these forward looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results.
Investors may find additional information regarding US Nuclear Corp. at the SEC website at http://www.sec.gov, or the company’s website at www.usnuclearcorp.com
US Nuclear Corp. (OTCBB: UCLE)
Robert I. Goldstein, President, CEO, and Chairman
Rachel Boulds, Chief Financial Officer
(818) 883 7043