The delay of a major sale of cobalt led to a drop in 2003 revenues (end-December) for radioisotope manufacturer International Isotopes of Idaho Falls, ID.
For the year, the company reported sales of $2.1 million, a drop of 5% compared with 2002 full-year revenues of $2.2 million. International Isotopes said that the cobalt sale was initially expected to take place in November 2003, but was pushed into February 2004 due to circumstances beyond the firm's control. If the sale had taken place when first expected, the company's year-over-year revenue would have increased 12%.
The firm's net loss from continuing operations for 2003 was $555,000, up 58% compared with a net loss of $350,000 in 2002. The company attributed the higher net loss to increased costs related to the development of new products and a distribution capability for the new isotopes lutetium-177 and iodine-131.
By AuntMinnie.com staff writersMarch 30, 2004
Related Reading
International Isotopes debuts iodine-131, March 22, 2004
International Isotopes increases Q3 revenues, but loss also rises, November 6, 2003
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
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