US Nuclear Announces 3rd Quarter Financials and Launch of New Marketing Initiatives

Rhea-AI Summary

US Nuclear Corp (OTC: UCLE) reported significant financial improvements in Q3 2024. The company reduced its quarterly loss by 89% to $110,971 from $760,062 in 2023. Nine-month losses decreased by 68% to $728,320 from $2,296,114 in 2023. Q3 revenues reached $610,864, up from $593,502 in 2023, while nine-month revenues improved by 9.6% to $1,741,182.

Current liabilities were reduced by 50% to $2,412,805 from year-end 2023. The company announced plans to reduce operating expenses by 20% while targeting 20% sales growth. US Nuclear is focusing on marketing nuclear monitoring product packages to nuclear providers, fire, police, paramedics, and government agencies.

Positive

• 89% reduction in Q3 2024 losses ($110,971 vs $760,062)
• 68% decrease in nine-month losses ($728,320 vs $2,296,114)
• 9.6% increase in nine-month revenues ($1,741,182 vs $1,588,009)
• 50% reduction in current liabilities from year-end 2023

Negative

• Company still operating at a loss ($110,971 in Q3 2024)
• Modest Q3 revenue growth of only $17,362 (2.9%) year-over-year

LOS ANGELES, Dec. 04, 2024 (GLOBE NEWSWIRE) -- US Nuclear Corp. (OTC: UCLE) is pleased to announce that the 3^rd quarter 2024 loss was reduced to $110,971 from $760,062 in 2023, a reduction of 89%. For the nine-month period, losses were reduced from $2,296,114 in 2023, to $728,320 in 2024, a reduction of $1,567,794, or 68%.

“These improvements in our path to profitability are just the beginning,” said Bob Goldstein, CEO of US Nuclear. “We’re working towards reducing our operating expenses 20%, while growing sales by 20% or greater!”

Revenues for the 3^rd quarter were $610,864, an improvement of $17,362 over the 2023 revenues of $593,502. For the nine-month period, 2024 revenues were $1,741,182, an improvement of 9.6% over the 2023 nine-month revenues of $1,588,009.

Current Liabilities for the 3^rd quarter 2024 were $2,412,805, a reduction of $2,426,690, or 50% from year-end 2023.

“We are setting aggressive sales targets for our sales professionals for the year ahead,” said Mr. Goldstein, “We are going to focus first on our nuclear monitoring product line, and we’re working on assembling packages that will include all monitoring devices necessary to protect a facility. We’ll market this line not only to current and future nuclear providers, but to fire, police, paramedics and government and regulatory agencies. Our contact and current customer list is quite extensive, and we expect an exciting year ahead for the Company!”

Please use the following link to see our 3^rd quarter filing: US Nuclear

For sales and product information call Bob Goldstein at (818) 472-7071, or email Mark Kohn at mark.kohn@usnuclear.com. For Investor information call Jack Lennon at Chamberlain Capital (508) 360-8407 or at jjlennon@comcast.net                         

FAQ

What was US Nuclear's (UCLE) Q3 2024 financial loss?

US Nuclear reported a Q3 2024 loss of $110,971, reduced from $760,062 in Q3 2023.

How much did US Nuclear (UCLE) reduce its current liabilities in Q3 2024?

US Nuclear reduced its current liabilities by 50% to $2,412,805 compared to year-end 2023.

What were US Nuclear's (UCLE) revenue figures for Q3 2024?

US Nuclear's Q3 2024 revenues were $610,864, up from $593,502 in Q3 2023.

What is US Nuclear's (UCLE) target for operating expense reduction?

US Nuclear aims to reduce operating expenses by 20% while targeting 20% sales growth.