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.