Strong growth in radiochemical product sales wasn't enough to overcome sharp declines for radioisotope manufacturer International Isotopes in cobalt sales and radiological services in 2019.
For the period (end-March 31), the company had total revenues of $9 million, down 14% from the $10.4 million reported in 2018. During the year, radiochemical products sales climbed 26% due largely to the addition of contract manufacturing operations. Sales of nuclear medicine standards increased by 4% during the year. However, cobalt sales dropped by 59%, while revenues from the company's radiological services business fell by 58%, according to the firm.
International Isotopes had a 2019 net loss of $1.5 million, compared with a net loss of $845,000 in 2018. The company attributed the higher net loss to increased operating costs, expenses related to a decontamination event involving a breached cesium-137 source, and the resultant loss of additional field service contract work following that event.
