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US Nuclear Corp. Announces 2017 Annual Financial Results
Los Angeles, CA. April 19, 2018 – US Nuclear Corp. (OTCBB: UCLE)
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
- The 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 the volume even further by capturing more of the global tritium monitor market, focusing on business from the new power plant and fusion development, and introducing our new products mentioned above.”
US Nuclear Receives New Orders for Replacing Competitor Equipment
Los Angeles, CA, March 22, 2018 (GLOBE NEWSWIRE) — Recently, US Nuclear Corp. (UCLE) received orders for new tritium monitoring equipment from Schlumberger for $93,150 and Korea Hydro & Nuclear Power (KHNP) for $307,922, totaling just over $400,000. In each case, the user chose US Nuclear’s equipment to replace units manufactured by a competitor. Overhoff Technology Corporation, the subsidiary of UCLE that manufactures the tritium monitors, provides the largest selection of tritium monitors in the world and has a well-known history of reliability and performance. Founded in 1972, Overhoff has more experience than any other tritium manufacturer in the world designing and building tritium monitors, which has allowed them to perfect the art of assembling these complex and challenging instruments. Furthermore, Overhoff is now the only company in the United States specializing in the manufacture of tritium monitors.
Tritium monitors are required for any application where tritium is used or is present, to ensure the health and safety of the users and the public. These applications include nuclear power reactors, tritium processing facilities, manufacturing (such as self-powered lighting sources), biomedical and academic research, water treatment/groundwater monitoring, nuclear fusion, and nuclear weapons. Accurately measuring the tritium concentration in these applications is essential, which is why it is so important to have reliable monitors with a good track record, such as Overhoff.
US Nuclear Expands in China
Los Angeles, CA. February 20, 2018 – In early January 2018, the CEO of US Nuclear Corp. (OTC: UCLE) flew to Beijing, China with the purpose of discussing how US Nuclear can help improve Chinese nuclear customer’s access to the advanced, high-quality, more competitively priced products they need in order to meet China’s aggressive power plant construction growth targets. The goal is to expand USN offerings and to achieve substantial growth for US Nuclear markets in China beginning in 2018 and into the longer term.
Discussions are scheduled to continue in March as US Nuclear will attend Nuclear Industry China, a 4-day event being held from March 28-31, 2018, at the China International Exhibition Center in Beijing. This event allows US Nuclear to showcase its products for major industry sectors including:
- Nuclear Power Plant and Fuel Cycle Equipment for Uranium, Thorium, Fusion Featuring Smokestack, Liquid effluent, and Tritium monitors
- Hospital, Medical, and Biotech Featuring products used in Diagnostic Imaging and Oncology departments
- Environmental Monitoring and Protection Systems Featuring All-weather Drones with chemical and radiation sensors Systems for the protection and safety of rivers, lakes, and drinking water systems