Radioisotope manufacturer International Isotopes reported revenue increases and reduced net losses for its third-quarter and nine-month periods, which the company attributed to robust sales in its cobalt products, nuclear medicine standards, and radiological services segments.
For the quarter (end-September 30), the company had $2.7 million in revenue, up 41% from $1.9 million in the third quarter of 2017. Revenue for the nine-month period was $7.9 million, up 43% from 5.5 million in 2017.
Net loss for the quarter was $333,000, an improvement of 79% over a net loss of $1.6 million in 2017. For the nine-month period, the firm's net loss was $631,000, also an improvement of 79% from $3 million in 2017.
Cobalt product revenue increased by 846% during the quarter and by 318% during the nine-month period. Radiological services revenue decreased by 60% in the third quarter but increased by 77% over the nine-month period, compared with 2017. International Isotopes said these revenues are primarily the result of contract work for the U.S. Department of Energy.
Nuclear medicine product revenue increased by 18% in the third quarter, compared with the same period last year, and by 19% over the nine-month period, the company said.
