BETHESDA, Md. – Centrus Energy (NYSE American: LEU) announced today that its subsidiary, American Centrifuge Operating, LLC (“ACO”), has won an award from the U.S. Department of Energy aimed at expanding domestic commercial production of Low-Enriched Uranium (“LEU”) to meet the needs of existing and future nuclear reactors. This is the third selection for Centrus under a series of three solicitations from the Department as part of a program to restore America’s domestic nuclear fuel supply for LEU and High-Assay, Low-Enriched Uranium (“HALEU”).
Cash balance of $180.3 million at September 30, 2015; Year-end 2015 cash balance expected to be in range of $175 - $200 million; $55.1 million net loss includes remeasurement of pension obligations and a special charge for anticipated workforce reductions; Approximately 40 percent of annual revenue expected in the fourth quarter
The conference call with shareholders and analysts will be open to listeners, who may log in through the Company’s website, www.centrusenergy.com. A link to the call will be located in the Investor Relations section, and a webcast replay will be available through November 25, 2015.
American leadership in nuclear technology is more important than ever to protect our national security and maintain the highest degree of vigilance against the spread of nuclear weapons
Centrus confirmed today that ORNL has informed Centrus that it intends to extend its contract with the Company at a reduced level for research on the world’s most advanced uranium enrichment centrifuges.
Kevin Alldred will be appointed as senior vice president, business strategy and Elmer Dyke as senior vice president, business operations. Alldred and Dyke’s appointments will be effective on October 1 and September 1, respectively.
The conference call with shareholders and analysts will be open to listeners, who may log in through the Company’s website, www.centrusenergy.com. A link to the call will be located in the Investor Relations section, and a webcast replay will be available through September 9, 2015.
Net loss of $15.1 million on revenue of $63.3 million for the quarter; gross profit of $11.2 million for six-month period ending June 30, 2015; cash balance of $218.5 million at June 30, 2015; anticipated year-end 2015 cash balance is reiterated and expected to be in the range of $175 million to $200 million