Radioisotope manufacturer International Isotopes experienced lower revenues in its second quarter of 2015, although the firm's net loss narrowed.
For the quarter (end-June 30), the company reported revenue of $1.6 million, compared with $1.8 million for the prior-year period -- a decrease of approximately 13%. However, the company's second-quarter net loss shrank to $447,000, compared with $528,000 for the same period in 2014.
By segment, revenue from nuclear medicine products was $779,000, compared with $799,000 for the same period in 2014, a decrease of approximately 3%. In particular, revenue from TI Services, a joint venture International Isotopes formed with RadQaul, experienced a decrease in revenue, which in turn is largely responsible for International Isotope's downturn in the nuclear medicine segment.
Revenue from radiological services for the quarter was $99,000, compared with $376,000 for the same period in 2014, a decrease of approximately 74%. The decrease is largely due to fewer jobs awarded to the company under the U.S. Department of Energy's Orphan Source Recovery Program during the quarter.
Despite the results, International Isotopes CEO and President Steve Laflin remains "optimistic" about future profitability.
