US Nuclear Corp. Announces First Quarter 2024 Results
US Nuclear Corp. (OTC-QB: UCLE) announced its Q1 2024 financial results, reporting sales of $627,750 and a gross profit of $353,769. The company's gross margins decreased to 56.36% from 67.25% in the same period last year. However, US Nuclear significantly reduced its selling, general, and administrative expenses by 32.29% to $498,198. The net loss improved by 74% to $173,242.
CEO Robert Goldstein highlighted strong sales in tritium monitoring products and anticipated growth in nuclear power instrumentation. The company also launched a PFAS monitor capable of measuring contamination down to 1ppt, aligning with new EPA regulations. This product is expected to see increased demand due to the new enforceable limits on PFAS contamination.
US Nuclear Corp. (OTC-QB: UCLE) ha annunciato i risultati finanziari del primo trimestre 2024, riportando vendite di $627,750 e un profitto lordo di $353,769. I margini lordi dell'azienda sono diminuiti al 56,36% rispetto al 67,25% nello stesso periodo dell'anno precedente. Tuttavia, US Nuclear ha significativamente ridotto le spese di vendita, generali e amministrative del 32,29% a $498,198. La perdita netta è migliorata del 74%, arrivando a $173,242.
Il CEO Robert Goldstein ha evidenziato forti vendite nei prodotti per il monitoraggio del trizio e si aspetta una crescita nella strumentazione per l'energia nucleare. L'azienda ha anche lanciato un monitor PFAS in grado di misurare la contaminazione fino a 1ppt, in linea con le nuove regolamentazioni dell'EPA. Si prevede che questo prodotto avrà una domanda crescente a causa dei nuovi limiti esigibili sulla contaminazione da PFAS.
US Nuclear Corp. (OTC-QB: UCLE) anunció sus resultados financieros del primer trimestre de 2024, reportando ventas de $627,750 y un beneficio bruto de $353,769. Los márgenes brutos de la compañía disminuyeron al 56,36% desde el 67,25% en el mismo período del año pasado. Sin embargo, US Nuclear redujo significativamente sus gastos de venta, generales y administrativos en un 32,29% a $498,198. La pérdida neta mejoró un 74% a $173,242.
El CEO Robert Goldstein destacó las fuertes ventas en productos de monitoreo de tritio y anticipó un crecimiento en la instrumentación de energía nuclear. La compañía también lanzó un monitor de PFAS capaz de medir la contaminación hasta 1ppt, cumpliendo con las nuevas regulaciones de la EPA. Se espera que este producto vea un aumento en la demanda debido a los nuevos límites aplicables sobre la contaminación por PFAS.
US Nuclear Corp. (OTC-QB: UCLE)는 2024년 1분기 재무 결과를 발표하며 $627,750의 매출과 $353,769의 총 이익을 보고했습니다. 회사의 총 매출 총이익률은 작년 같은 기간의 67.25%에서 56.36%로 감소했습니다. 그러나 US Nuclear는 판매, 일반 및 관리 비용을 32.29% 줄여 $498,198로 낮췄습니다. 순손실은 74% 개선되어 $173,242에 달했습니다.
CEO 로버트 골드스타인은 트리튬 모니터링 제품의 강력한 판매를 강조하며, 원자력 계측기기의 성장을 기대한다고 밝혔습니다. 이 회사는 또한 새로운 EPA 규정에 부합하는 1ppt까지 오염을 측정할 수 있는 PFAS 모니터를 출시했습니다. 이 제품은 PFAS 오염에 대한 새로운 강제 기준으로 인해 수요가 증가할 것으로 예상됩니다.
US Nuclear Corp. (OTC-QB: UCLE) a annoncé ses résultats financiers du premier trimestre 2024, affichant des ventes de $627,750 et un bénéfice brut de $353,769. Les marges brutes de l'entreprise ont diminué à 56,36 % contre 67,25 % au cours de la même période l'année dernière. Cependant, US Nuclear a considérablement réduit ses frais de vente, généraux et administratifs de 32,29 % à $498,198. La perte nette s'est améliorée de 74 % pour atteindre $173,242.
Le PDG Robert Goldstein a souligné des ventes solides de produits de surveillance du tritium et a anticipé une croissance dans l'instrumentation nucléaire. L'entreprise a également lancé un moniteur PFAS capable de mesurer la contamination jusqu'à 1ppt, conformément aux nouvelles réglementations de l'EPA. On s'attend à ce que ce produit connaisse une demande accrue en raison des nouvelles limites applicables sur la contamination par les PFAS.
US Nuclear Corp. (OTC-QB: UCLE) hat seine finanziellen Ergebnisse für das erste Quartal 2024 bekannt gegeben und berichtet von einem Umsatz von $627,750 und einem Bruttogewinn von $353,769. Die Bruttomarge des Unternehmens fiel von 67,25% im gleichen Zeitraum des Vorjahres auf 56,36%. Dennoch konnte US Nuclear seine Vertriebs-, Allgemein- und Verwaltungskosten um 32,29% auf $498,198 senken. Der Nettoverlust verbesserte sich um 74% auf $173,242.
CEO Robert Goldstein hob die starken Verkaufszahlen bei Tritium-Monitoring-Produkten hervor und erwartete ein Wachstum bei der Nuklearinstrumentierung. Das Unternehmen hat auch einen PFAS-Monitor eingeführt, der in der Lage ist, Kontaminationen bis zu 1ppt zu messen, und damit den neuen EPA-Vorschriften entspricht. Es wird erwartet, dass dieses Produkt aufgrund der neuen durchsetzbaren Grenzwerte für PFAS-Kontaminationen eine höhere Nachfrage erfahren wird.
- Sales revenue of $627,750 for Q1 2024
- Significant reduction in selling, general, and administrative expenses by 32.29%
- Net loss improved by 74% compared to the same period last year
- Launch of a new PFAS monitor aligning with EPA regulations, potentially driving sales
- Decrease in gross margins from 67.25% to 56.36% year-over-year
- Net loss of $173,242 for Q1 2024
- Slight decrease in sales compared to Q1 2023 ($627,750 vs $647,706)
LOS ANGELES, CA, Aug. 05, 2024 (GLOBE NEWSWIRE) -- 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 first quarter ended March 31, 2024.
- Sales for the three months ended March 31, 2024 were
$627,750 - Gross profit was
$353,769 - Gross margins were
56.36% as compared to67.25% for the same period last year - Selling, general, and administrative expense were
$498,198 compared to$735,825 for the same period last year, the decrease of$237,627 or32.29% was due to careful management of expenses and overhead, and negotiating better prices with its vendors and consultants - Net loss of
$173,242 , a74% improvement over last year
Robert Goldstein, CEO of US Nuclear Corp., commented:
“Our performance this year is off to a strong start with sales revenue coming in at
"Sales of our tritium monitoring product line continue to increase as tritium is used more and more every day in fusion power research & development. Nuclear power generation is rapidly expanding in general as countries around the world turn to nuclear power to meet skyrocketing energy costs and demands. We sell a wide variety of equipment to nuclear power plants which purchase millions of dollars worth of instrumentation to safely outfit their operations. As these trends continue for the foreseeable future, we will see an increase in our sales revenue.
"In a landmark move this first quarter, the EPA also imposed new enforceable limits on PFAS contamination, requiring companies and utilities to reduce and monitor PFAS levels down to the lowest limits of 4ppt. This was welcome timing for us, as we recently launched a cutting-edge PFAS monitor that can measure PFAS contamination on-the-spot down to 1ppt in less than a few minutes which is below the EPA’s new limit. With this new rule in effect immediately, sales of this product should surge.”
| US NUCLEAR CORP. AND SUBSIDIARIES | ||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||
| (unaudited) | ||||||||
| Three Months Ended | ||||||||
| March 31, | ||||||||
| 2024 | 2023 | |||||||
| Sales | $ | 627,750 | $ | 647,706 | ||||
| Cost of sales | 273,981 | 212,117 | ||||||
| Gross profit | 353,769 | 435,589 | ||||||
| Operating expenses | ||||||||
| Selling, general and administrative expenses | 498,198 | 735,825 | ||||||
| Total operating expenses | 498,198 | 735,825 | ||||||
| Loss from operations | (144,429) | (300,236) | ||||||
| Other income (expense) | ||||||||
| Interest expense | (37,202) | (22,140) | ||||||
| Equity loss in investment | - | (8,059) | ||||||
| Loss on deconsolidation | - | (2,539) | ||||||
| Amortization of debt discount | (11,264) | (331,559) | ||||||
| Other income | 19,653 | - | ||||||
| Total other income (expense) | (28,813) | -364,298 | ||||||
| Loss before provision for income taxes | (176,422) | (664,534) | ||||||
| Provision for income taxes | - | - | ||||||
| Net loss | $ | (173,242) | $ | (664,534) | ||||
| Deemed dividend for down-round provision in warrants | - | (2,013) | ||||||
| Net loss attributed to common stockholders | $ | (173,242) | $ | (666,547) | ||||
| Weighted average shares outstanding - basic and diluted | 42,526,088 | 32,634,839 | ||||||
| Loss per shares - basic and diluted | $ | (0.00) | $ | (0.02) | ||||
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.
CONTACT:
US Nuclear Corp. (OTC-QB: UCLE)
Robert I. Goldstein, President, CEO, and Chairman
Michael Hastings, Chief Financial Officer
Ph: (818) 883 7043
Email: info@usnuclearcorp.com
http://usnuclearcorp.com
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