Los Angeles, CA. September 27, 2022 - US Nuclear Corp. (OTC-QB: UCLE), a leading manufacturer of advanced radiation, chemical, and biological detection and UAV instrumentation, recently announced the financial results for the second quarter ended June 30, 2022.
- Sales for the three months ended June 30, 2022, were $585,525 compared to $352,558 for the same period in 2021, an increase of 65.2%
- The gross margin is 45.1% as compared to 44.2% for the same period in 2021
- Selling, general, and administrative expense were $534,753 compared to $620,854 for the same period in 2021, a decrease of $86,101 or 13.9%
- During the three months ended June 30, 2022, stock-based compensation was $57,745 compared to $166,650 during the same period in 2021
- Other expense was $94,279, a decrease of $916,034 for the same period in 2021
- Net loss of $366,278 compared to $1,282,312 for the same period in 2021
Robert Goldstein, CEO of US Nuclear Corp., commented:
“We are happy to report that sales revenue is up and expenses are down, even as we face headwinds from the global supply chain shortage and the rising cost of parts. Fortunately, there are many catalysts that are driving additional revenue to our sector, the most prominent being the rising demand for clean, nuclear energy, which requires our radiation safety and protection equipment to produce. Sales of our DroneRAD product line continue to increase, and with our new subsidiary, Cali From Above, we can offer the complete package from selling drones, parts, and accessories to providing drone pilot services and operator training. Our advanced drone and entrance/edit/border crossing systems measure not only radiation, but also chemicals, nerve gases, explosives, fentanyl, and other drugs, and with the current geopolitical climate and the ongoing war in Ukraine, these systems can help provide important data and early warning alarms to keep people safe. We are just beginning to see the positive effects that the surge in nuclear energy is providing and it will continue to drive up our sales revenue as we strive towards profitability.”
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 http://www.usnuclearcorp.com
CONTACT: US Nuclear Corp. (UCLE)
Robert I. Goldstein, President, CEO, and Chairman
Rachel Boulds, Chief Financial Officer
(818) 883 7043
Email: [email protected]