Radioisotope developer International Isotopes of Idaho Falls, ID, reported 2003 fiscal third-quarter (end-September 30) and year-to-date revenue of $552,000 and $1.7 million, respectively. The figures represent a 39% and 9% increase for the periods, respectively, compared with $397,000 and $1.5 million in sales for the same periods in 2002.
The firm also reported a net loss for the three- and nine-month periods of $123,000 and $457,000 respectively, compared with losses of $108,000 and $198,000 for the same periods in 2002. The company noted that its net loss for the nine-month period in fiscal 2002 would have been $698,000 except for a one-time removal of a $500,000 contingent liability it had in connection with the sale of its linac facility in Denton, TX.
The company’s increased operating expenses are attributable to efforts to develop sales of the firm’s new product, lutetium-177, and its preparation to introduce other new products in 2004, sales of which are expected to significantly improve the firm’s financial performance next year, according to International Isotopes president and CEO Steve Laflin.
By AuntMinnie.com staff writersNovember 6, 2003
Related Reading
International Isotopes raises $1.3 million, September 16, 2003
International Isotopes to launch lutetium-177, August 26, 2003
International Isotopes begins manufacturing SPECT calibration sources, October 23, 2002
International Isotopes completes LINAC sale, December 26, 2001
Camp steps down as International Isotopes CEO, August 17, 2001
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