Uranium Energy Corp said quarterly production more than doubled on a sequential basis as demand from the U.S. government continues to grow.

The uranium company on Tuesday posted a fiscal fourth-quarter loss of $60.7 million, or 12 cents a share, compared with a loss of $27.1 million, or 6 cents a share, a year earlier. Analysts polled by FactSet expected a loss of 4 cents a share.

Sales and service revenue came in at $17.1 million, up from $0 in the year-earlier period.

Production more than doubled from the third quarter, to 82,744 pounds of precipitated uranium and dried and drummed triuranium octoxide across the company's two mines. Total cost per pound fell 33% over the same period, the company said.

The Corpus Christi, Texas, company said it is seeing growing demand from the U.S. government for domestic uranium, a trend that it expects to benefit from given its domestic supply and vertically integrated fuel cycle.

"The U.S. government's growing demand for unobligated U.S.-origin uranium and conversion confirms why we set out to build it: those needs can only be met by U.S. mines, U.S. technology and U.S. conversion," Chief Executive Amir Adnani said.

Adnani said the company enters the current fiscal year debt free, and that it expects to be able to fund ongoing growth.

"UEC has never been better positioned to build on and extend its leadership position in the United States," Adnani said.