USEC / USU

About USEC

6903 Rockledge Dr., Bethesda, Md. 20817
www.usec.com | 301-564-3200 | Founded: 1998

Industry: Energy | Category: Public Companies

The price of uranium, the raw material used in nuclear reactor fuel, has risen more than sixfold since October 2001. That has helped USEC, whose profit rose to $106.2 million in 2006, compared with $22.3 million the year before. The volume of enriched uranium sold rose 18 percent, and interest costs and headquarters overhead declined. The company said the average price of raw uranium it sold was 45 percent higher in 2006 than the year before but that sales volume of raw uranium declined 17 percent.
With reactors under construction and planned in China, India and elsewhere, demand should remain strong. Forty percent of USEC's enriched uranium is sold abroad.
But the company's processing costs are rising. USEC expects to spend $2.3 billion building the American Centrifuge Plant, which will use 95 percent less energy than the plant it currently leases from the federal government. Construction costs have risen about 35 percent. The new plant is set to begin commercial operation in 2010 and operate at full capacity in 2012.

Chairman: James R. Mellor

2006 Financial Data

Revenues: $1,848,600,000 | Net Income: $106,200,000
Asssets: $1,861,400,000 | Earnings Per Share: $1.22
Total employees: 2,677 | Local employees: 85