Buoyed by a double-digit increase in radiochemical product sales, radioisotope manufacturer International Isotopes posted gains for the second quarter and first six months of 2017 (end-June 30).
Sales in the second quarter increased 5% to $1.8 million, compared with $1.7 million in the second quarter of 2016. The company's net loss increased to $602,000 from a net loss of $445,000 in the same quarter of 2016.
For the six-month period, sales advanced 6% to $3.6 million, compared with $3.4 million in the same period of 2016. Net loss also increased to $1.4 million, compared with a net loss of $820,000 in the first half of last year.
The company attributed its sales gains to a competing sodium iodide producer ceasing production operation in late 2016. However, minor increases in production costs were partly to blame for the greater net loss and diminished profit margin.
