USEC shares fall

25 May 2005

A gloomy long-term outlook from USA business publication Barron’s has contributed to a decline in share prices of uranium enrichment company USEC.

In a report published 23 May, Barron’s said the company could face higher energy costs in its uranium enrichment business from 2006 and could suffer in the longer term as its contract to resell uranium from dismantled Russian nuclear warheads expires.

The news follows the latest results from USEC that showed net income for the quarter ended 31 March 2005 of $0.9 million or ¢1per share, compared to a net loss of $9.8 million or ¢12 per share in the same quarter of 2004.

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