US Nuclear Corp. showed improved financial results for the third quarter as it narrowed its net loss.
The Canoga Park radiation, chemical and biological detection products manufacturer reported on Monday a net loss of $444,383 (-2 cents a share) for the quarter ending Sept. 30, compared to a net loss of $850,386 (-4 cents) in the same period a year earlier. Revenue increased by 41 percent to $683,771.
No analysts follow the company.
Chief Executive Robert Goldstein said that while the company is still affected by the COVID-19 pandemic and supply chain issues, it continues to increase revenue as it adapts and recovers.
“September was a particularly busy month for us as we delivered on government contracts due by their fiscal year-end (Sept. 30),” Goldstein said in a statement. “We will keep up the momentum throughout the rest of the year as we work on fulfilling a large order backlog and several major contracts due by the calendar year-end.”
Shares of US Nuclear (UCLE) closed down nearly 3 cents, or more than 6 percent, to 38 cents on the over-the-counter market.
