USU

USEC (USU) reported Q1 earnings:

• First quarter net income of $4.4 million is in line with expectations.
• Revenue totals $343 million, reflecting timing of orders based on 18-to-24-month refueling cycles.
• Net income and cash flow guidance for 2008 reiterated.
• USU, like OYOG, has "lumpy" sales. “As USEC investors are aware, our quarterly results reflect the timing of the refueling of our customers’ reactors and can vary widely from quarter to quarter,” said John K. Welch, USEC president and chief executive officer.
• A majority of reactors served by USEC are refueled on an 18-to-24-month cycle, and guidance for 2008 anticipates a 15-20 percent decline in SWU sales volume that reflects the high number of reactors refueled in 2007. However, SWU sales volume in 2009 should return to levels seen in 2007 as these reactors are refueled again. The average SWU price billed to cu