Radioisotope manufacturer International Isotopes has reported the highest one-year revenue in its operating history, due to sales generated by a joint venture it formed in December 2010, the company said. The company's net loss also shrank.
For the year 2011 (end-December 31), International Isotopes had revenue of $9.5 million, up 55% from the $6.1 million reported in 2010. The 2011 revenue included $2.8 million generated by TI Services, a joint venture that International Isotopes formed with RadQual in December 2010. The company did not report any revenue from this joint venture for the year ended December 31, 2010. Excluding revenue from TI Services, International Isotopes' total revenue increased by approximately 9% over 2010, the company said.
Revenue from the sale of radiochemical products increased in 2011 by approximately 4% to $1.8 million, compared with $1.7 million in 2010, while sales of nuclear medicine products increased approximately 13% to $2 million in 2011, compared with $1.7 million in 2010. Revenue from the company's radiological services segment increased by approximately 17% to $229,000 in 2011, compared with $195,000 in 2010.
The company had a net loss of $6 million in 2011, down 13% compared to 2010's $6.8 million net loss.
