Fuel Services

(includes results for UF6, UO2 and fuel fabrication)
  Three months ended
December 31		  
Highlights 2014 2013 Change
  1. 1 Includes sales of 0.5 million kgU and revenue of $4 million between our uranium, fuel services and NUKEM segments.
Production volume (million kgU) 2.7 2.7 —
Sales volume (million kgU) 7.4 1 6.5 14%
Average realized price ($Cdn/kgU) 16.92 17.24 (2)%
Average unit cost of sales ($Cdn/kgU) (including D&A) 14.78 14.42 2%
Revenue ($ millions) 125 1 112 12%
Gross profit ($ millions) 16 18 (11)%
Gross profit (%) 13 16 (19)%

Total revenue increased by 12% due to a 14% increase in sales volumes, partially offset by a 2% decrease in average realized price.

The total cost of sales (including D&A) increased by 17% ($109 million compared to $93 million in the fourth quarter of 2013) mainly due to a 14% increase in sales volumes and a 2% increase in the average unit cost of sales.

The net effect was a $2 million decrease in gross profit.