A decline in revenues in each business segment adversely affected radioisotope manufacturer International Isotopes' financials for the first quarter of 2012 (end-March 31).
Revenue for the first quarter slipped to $1.9 million, compared with $2.4 million in the first quarter of 2011. However, net loss improved to $590,000, compared with a net loss of $1.7 million in last year's first quarter. The company cited decreased costs in research and development as one reason for the improved net loss.
Steve Laflin, president and CEO, said that while revenue totals for 2012 are unlikely to meet or exceed last year's results, he expects sales and financial performance to improve during the rest of this year.
