Lightbridge (LTBR) Reports Q1 Loss of $0.33

Lightbridge (NASDAQ: LTBR) reported Q1 EPS of ($0.33), versus ($0.74) reported last year.

“The scope of this project, working in collaboration with the Pacific Northwest National Laboratory (PNNL) in Richland, WA, is to demonstrate Lightbridge’s nuclear fuel casting process using depleted uranium, a key step in the manufacture of our nuclear fuel.

“In addition, earlier today we announced the successful demonstration of the manufacturing process for three-lobe, six-foot rods using surrogate materials. This demonstration of Lightbridge’s proprietary manufacturing process uses an internally developed and patented high-temperature coextrusion process for commercial-scale small modular reactors now in development and licensing.

“We also received two key patents in the first quarter from the United States Patent and Trademark Office and the Korean Intellectual Property Office related to the design and manufacture process of Lightbridge Fuel™ rods and assemblies. Importantly, we will demonstrate a critical portion of our patented manufacturing process within our second GAIN voucher project at PNNL.

“We’ve started this year off with good traction and are exploring partnerships and other business development opportunities. Today, nuclear energy is growing in recognition as a sustainable energy source. The European Commission recently announced that it would include nuclear power in the EU’s sustainable taxonomy, which allows investments in nuclear to be provided the same tax and regulatory benefits as other “green” technologies. We believe this will allow Lightbridge to take advantage of the growing number of projects in advanced nuclear, from both the private and public sectors, with greater investment from environmentally sustainable investors,” concluded Mr. Grae.

For earnings history and earnings-related data on Lightbridge (LTBR) click here.

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