Net loss of $44.3 million reflects continuing transition costs for Paducah plant; American Centrifuge RD&D program remains under budget and on schedule, meeting milestones; DOE funding continuing in increments; Commenced full cascade operations in early October; Year-end cash balance of more than $250 million expected
USEC Reports Third Quarter 2013 Results
USEC Achieves American Centrifuge RD&D Milestones
A full production-scale cascade of 120-machines has achieved 20-machine years of operations at commercial plant specifications. During that performance run, USEC successfully completed three important milestones set by the Department of Energy for the American Centrifuge RD&D program.
Final Megatons to Megawatts Shipment Completes Historic Program
20-year energy and nonproliferation program converted Russian nuclear warhead material into commercial nuclear fuel
U.S. International Trade Commission Votes 3-1 for Continued Duties on Imported French Low Enriched Uranium
The duties were first established in 2002 and renewed in 2007 following a comprehensive investigation by the U.S. Commerce Department and the ITC. The vote ensures that the U.S. Commerce Department’s order imposing dues on French low enriched uranium to offset dumping, which has been detrimental to America’s uranium enrichment industry, will remain in place for at least five more years.
USEC to Webcast Conference Call on November 5 at 8:30 a.m. ET
USEC will broadcast its next quarterly conference call with shareholders and the financial community over the Internet on Tuesday, November 5, 2013, at 8:30 a.m. ET. The Company will release its third quarter 2013 earnings report, which ended September 30, 2013, after the close of markets on Monday, November 4.
USEC Inc. Adds Distinguished Businessmen to Board
Michael Diament and Mikel H. Williams elected to complete term until next annual meeting of shareholders
Craig Hansen Named President of American Centrifuge Manufacturing
Hansen will be responsible for management and operations of the American Centrifuge Technology and Manufacturing Center located in Oak Ridge, Tenn. He most recently served as vice president of nuclear equipment at Babcock & Wilcox Nuclear Energy, Inc., where he led B&W’s global commercial nuclear manufacturing business.
NERA Study: Utilities at Risk of Higher Prices, Reduced Competition among Fuel Suppliers without American Centrifuge
Study concluded that without the American Centrifuge Plant, U.S. nuclear utilities will be dependent on foreign-owned sources of low enriched uranium, and all nuclear utilities will be at risk of losing purchasing power, facing higher prices and being subject to anti-competitive behavior by foreign enrichers.
USEC Statement on Trading in Its Common Stock
In view of the unusual market activity in the Company’s common stock, the New York Stock Exchange has contacted the Company in accordance with its usual practice. The company stated that its policy is not to comment on unusual market activity.
USEC Regains Compliance with NYSE Minimum Price Listing Standard
USEC Inc. was notified yesterday by the New York Stock Exchange that the company has regained compliance with the NYSE’s minimum share price standard for the continued listing of its stock.
USEC Reports Second Quarter 2013 Results
Net loss of $40.9 million reflecting Paducah plant transition costs; Cash balance of $194.7 million; American Centrifuge research, development and demonstration program continues on budget and on schedule, meeting DOE milestones
USEC to Webcast Conference Call on August 6 at 8:30 a.m. ET
The regularly scheduled call with shareholders and analysts will be open to listeners who may log in through the Company’s website, www.usec.com. A link to the call will be located in the Investor Relations section, and a webcast replay will be available through August 20, 2013.
American Centrifuge RD&D Program Advances
120 AC100 centrifuges operating, preparing for demonstration of cascade operations; DOE funds next increment of program funding through September 30, 2013; Sixth RD&D program milestone completed; DOE certification pending; Program remains on budget and on schedule
Additional USEC Statement on Trading in Its Common Stock
In view of the unusual market activity in the company’s stock today, the Exchange has contacted the company in accordance with its usual practice. The company stated that its policy is not to comment on unusual market activity.
USEC Statement on Trading in Its Common Stock
In view of the unusual market activity in the company’s stock, the New York Stock Exchange has contacted the company in accordance with its usual practice. The company stated that its policy is not to comment on unusual market activity.
Manufacturers Association President: American Centrifuge Plant is Key Part of U.S. Nuclear Manufacturing Resurgence
“The American Centrifuge represents the high-tech manufacturing that we need to boost our economy and succeed in the future,” said Timmons. “Manufacturers in the United States need reliable and affordable electricity to compete effectively in markets around the world.”
USEC Announces 1-for-25 Reverse Stock Split
USEC Inc. announced that its stockholders have approved an amendment to its Certificate of Incorporation to implement a reverse stock split.
USEC Holds Annual Meeting of Stockholders
USEC Inc. held its annual meeting of stockholders and reported on the American Centrifuge research, development and demonstration (RD&D) program being conducted at facilities in Ohio and Tennessee.
Megatons to Megawatts Program 95 Percent Complete
USEC Inc. announced that the Megatons to Megawatts program has completed downblending of 475 metric tons of weapons-grade uranium into fuel for commercial nuclear power plants and is on schedule to complete the program in 2013.
USEC Issues WARN Act Notices to Paducah Gaseous Diffusion Plant Workers
The notifications are being provided to all salaried employees and employees who are represented by the United Steelworkers International Union, Local 550 – a total of about 1034 workers. USEC expects that initial layoffs of about 160 employees will occur between August 5 and August 19, 2013.
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