Radioisotope manufacturer International Isotopes is blaming current economic conditions and lower bulk cobalt sales for a decline in revenue for the first six months of 2010.
In the second quarter (end-June 30), revenue held steady at $1.5 million, compared with $1.5 million in the second quarter of 2009. The Idaho Falls, ID-based company also reported a net loss of $1.7 million, compared with a net loss of $759,000 in the same quarter a year ago. The net loss was due primarily to an increase in operating expenses to $2.3 million in the second quarter, compared with $1.6 million in the second quarter of 2009.
For the six-month period, revenue decreased 19% to $2.6 million, compared with $3.2 million in the same period of 2009. The net loss for the six-month period increased to $3 million, compared with a net loss of $1.3 million in the corresponding 2009 six-month period.
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