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Thursday, May 19, 2022

US Nuclear Narrows Quarterly Loss

US Nuclear narrowed its net loss in the third quarter even as its revenue decreased due to the coronavirus pandemic.The Canoga Park radiation detection manufacturer reported on Tuesday a net loss of $850,356 (-4 cents a share) for the quarter ending Sept. 30, compared with a net loss of $1.4 million (-8 cents) in the same period a year earlier. Revenue decreased by 27 percent to $484,318.No analysts follow the company.Robert Goldstein, chief executive of the company, said that despite the challenges imposed by COVID-19, US Nuclear had a safe and productive quarter.“The temporary closure of one of our operating divisions, reduced and staggered worker hours, and 14-day self-quarantine periods have fortunately proved successful in ensuring all our workers are safe and COVID-19 free,” Goldstein said in a statement. “While these factors have led to a temporary slowdown in sales and production, the safety of our employees and their families is our highest priority.”US Nuclear has three subsidiaries – Technical Associates in Canoga Park, which makes radiation detection equipment; Overhoff Technologies in Milford, Ohio, which specializes in tritium detection equipment; and Electronic Control Concepts, also in Milford, which makes voltmeters to check industrial and medical X-ray machines.Shares of US Nuclear (UCLE) closed Tuesday down 2 cents to 15 cents on the over-the-counter market.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.

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