US Nuclear Reports 3rd Quarter 2018 Results – 35.6% Increase in Revenue
Los Angeles, CA. November 20, 2018 – US Nuclear Corp. (OTCBB: UCLE)
- Sales for the three months ended September 30, 2018, were $1,145,480, an increase of 35.6% for the same period in 2017
- Gross profit was $512,096, an increase of 34% for the same period in 2017
- During the three months ended September 30, 2018, the company entered into an agreement with MIFTEC and paid $1,084,000 for certain manufacturing and supply rights as discussed below
- Net loss from operations ($1,414,715) due to stock-based compensation and acquisition of manufacturing and supply rights offset by an increase in gross profits due to higher sales
US Nuclear Corp. (OTCBB: UCLE), a leading manufacturer and seller of advanced radiation and chemical detection instrumentation, recently announced the financial results for the third quarter ended September 30, 2018.
“We had a very successful third quarter, with sales revenue up 35.6% for the same period last year” commented Robert I. Goldstein, President, CEO, and Chairman of US Nuclear Corp. “The increase in sales is due to targeted sales efforts and momentum of our signature products, including drinking water monitors, nuclear power plant air and stack monitors, USN/FlyCAM UAV DroneRADs, personnel and vehicle portal monitors, and tritium monitors. We are also incredibly excited about our acquisition of the MIFTEC manufacturing and supply rights, which will start to come to fruition in the near future when MIFTEC and US Nuclear start selling medical isotope generators.”
US Nuclear Corp. signed a definitive agreement with MIFTEC which formally appoints US Nuclear as the exclusive manufacturer of MIFTEC’s revolutionary medical isotope generators for North America and Asia, and makes US Nuclear a sales representative for all MIFTEC products. MIFTEC recently announced they already achieved a record-breaking neutron flux of 1010at the Reno National Terawatt facility. Neutron flux of 1012 is required to make medical isotopes in commercial quantities, and MIFTEC’s larger, more powerful prototype is expected to achieve and even surpass that requirement. There is currently a $7 billion/year shortage of medical isotopes due to the limited availability of current suppliers, and there are currently no suppliers in the USA.
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 by visiting US Nuclear Corp. and the SEC website.
CONTACT:
US Nuclear Corp. (OTCBB: UCLE)
Robert I. Goldstein, President, CEO, and Chairman
Ph: (818) 883 7043 | Email: info@usnuclearcorp.com
http://www.usnuclearcorp.com