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GREAT NEWS! LEU Expects strong 4th Quarter revenues

Centrus Receives Non-Compliance Notice from NYSE MKT

Company remains listed on NYSE MKT
Expects strong 4th Quarter revenues
Reiterates annual guidance for revenue and cash balance

Business Wire Centrus Energy Corp.
November 23, 2015 4:15 PM


BETHESDA, Md.--(BUSINESS WIRE)--

Centrus Energy Corp. (NYSE MKT: LEU) announced today that on November 17, 2015, it received a letter from the NYSE MKT indicating that it is not in compliance with the continued listing standards as set forth in Sections 1003 (a)(i) and (ii) of the NYSE MKT Company Guide. The notice has no immediate impact on the listing of the Company’s common stock, and Centrus today reiterated its annual guidance for 2015.

“Centrus continues to expect a strong fourth quarter – accounting for about 40 percent of our annual revenue,” said Daniel B. Poneman, Centrus president and chief executive officer. “We are on track to achieve our 2015 annual guidance, with $425 million to $450 million in total revenue and end of year cash and cash equivalents of $175 million to $200 million. We are continuing to book new sales and develop additional sources of supply to serve our customers’ needs. We will submit a plan of compliance to the NYSE MKT reflecting our expectation of the continued expansion of our nuclear fuel business in the years to come.”

The notice from the NYSE MKT indicated that the Company is not in compliance with Sections 1003(a)(i) and (ii) of the NYSE MKT Company Guide since it reported a stockholders’ deficit as of September 30, 2015 and net losses in its fiscal years ended December 31, 2011, 2012 and 2013. The Company will submit a plan of compliance to the NYSE MKT by December 17, 2015, that demonstrates the Company's ability to regain compliance by May 17, 2017.

In reiterating Centrus’ annual guidance, Poneman also noted that:

Centrus has repositioned itself to strengthen the business, including by building a new management team focused on business development and future growth.
Centrus has strengthened its relationships with customers and suppliers
Centrus’ deep technical expertise is a key asset that the company intends to leverage for future growth.

“With an order book that extends many years into the future, Centrus has a solid foundation to build upon as we work to regain our market position and grow our nuclear fuel business in the years ahead,” Poneman concluded.


About Centrus Energy Corp.

Centrus Energy Corp. is a trusted supplier of enriched uranium fuel for commercial nuclear power plants in the United States and around the world. Our mission is to provide reliable and competitive fuel goods and services to meet the needs of our customers, consistent with the highest levels of integrity, safety, and security.

http://finance.yahoo.com/news/centrus-receives-non-compliance-notice-211500139.html