US Nuclear Corp. Reports 172% Increase in Revenue in Second Quarter 2019 Results
LOS ANGELES, CA, Sept. 09, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- US Nuclear Corp. (OTC: UCLE)
Sales for the three months ended June 30, 2019 were $1,530,523, an increase of $968,995 or 172% as compared to the same period in 2018
Gross profit was $785,933 compared to $287,799 for the same period in 2018, an increase of 173%
Cash increased from $969,118 to $1,393,915 for the six months ended June 30, 2019 Stock based compensation was $804,131 compared to $328,320 during the same period in 2018
Net loss from operations ($466,019) due to stock-based compensation as the company acquires new partnerships, technology, sales and marketing consultants, and other services to facilitate company growth
US Nuclear Corp., a leading manufacturer and seller of advanced radiation and chemical detection instrumentation, recently announced the financial results for the second quarter ended June 30, 2019.
“We had a very successful and productive second quarter in 2019. Key metrics are increasing, with sales revenue up 172% from the same period last year,” commented Robert I. Goldstein, President, CEO, and Chairman of US Nuclear Corp. “Leaving out the stock-based compensation, our business operation had a dollar profit of $338,112, which is the main reason for the cash increase of $424,797. The increase in sales revenue can be attributed to strong sales growth of our signature products, including: air quality monitors, tritium monitors, and forensic drones. Being first to market with our scientific drones allowed us to establish ourselves at the forefront of this fast-growing industry and we look forward to capitalizing on our momentum.”
US Nuclear Corp. also recently teamed up with QYSEA Technology to design and build new ‘DiveRAD’ product line, industrial underwater robots integrated with radiological, chemical, biological, and video sensors to monitor and protect the world’s vital water sources and marine life, such as reservoirs, seaports, around nuclear power plants, and environmentally sensitive areas.
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: UCLE) Robert I. Goldstein, President, CEO, and Chairman Rachel Boulds, Chief Financial Officer (818) 883 7043