Mr. Cutlip will lead the Company’s activities at its Tennessee, Ohio, and Kentucky sites. In his new role, Mr. Cutlip will be assuming the duties of Steven Penrod, vice president, American Centrifuge, who will be leaving the Company at the end of June after more than 36 years of company service.
Net loss of $14.6 million on revenue of $90.0 million; Gross profit of $8.1 million for the LEU segment; improved margins on lower sales volume; Costs for demobilization of demonstration cascade of $12.0 million; Cash balance of $180 million at March 31, 2016; On track with annual outlook of $275-300 million in revenue and $200-250 million cash balance for year-end 2016
The conference call with shareholders and analysts will be open to listeners, who may log in through the Company’s website, www.centrusenergy.com. A link to the call will be located in the Investor Relations section of the website, and a webcast replay will be available through May 24, 2016.
Centrus' Board of Directors has adopted a Net Operating Loss stockholder rights plan to seek to preserve its substantial tax assets available to reduce potential future tax liabilities and to protect the interests of the Centrus stockholders.
Under the terms of the agreement, Centrus will continue to perform engineering and testing work to preserve and advance U.S.-origin uranium enrichment technology to support future national security and energy security needs. The contract totals approximately $32.3 million and runs through September 30, 2016.
Gross profit of $69 million, compared to losses in 2014 and 2013; Net loss of $187.4 million following non-cash charge of $137.2 million for the impairment of excess reorganization value; Positive cash flow from operations increases year-end cash balance to $234 million
Centrus will broadcast its quarterly conference call over the Internet on March 22, 2016, at 8:30 a.m. ET. The Company will release its year-end earnings report for its fiscal 2015 after the close of markets on Monday, March 21.