Increased revenue in its radiochemical products and nuclear medicine standards segments powered radioisotope manufacturer International Isotopes to double-digit growth in the first nine months of 2011 (end-September 30).
Revenue for the third quarter increased 25% to $22 million, compared with $1.8 million in the same quarter of 2010. The company's net loss grew to $4.8 million, compared with a net loss of $1.7 million in 2010's third quarter. The loss was blamed in part on $2.4 million in noncash expenses related to the maturity of convertible debentures.
For the nine-month period, revenue gained 65% to $7.2 million, compared with $4.4 million in the same period of 2010. The net loss grew to $8.2 million, compared with $4.7 million in the same period of 2010. The company attributed the loss in part to $2.4 million in noncash interest expenses from the maturity of convertible debt, which was incurred to support the ongoing development of the company's depleted uranium project.
