Revenue decreases in its cobalt products and radiological services segments hampered growth for radioisotope manufacturer International Isotopes in its third-quarter and nine-month financial report.
For the third quarter (end-September 30), revenue slipped by 13% to $2.3 million, compared with $2.7 million in the same quarter of 2018. Despite the decrease, the company reported a net income of $236,000, compared with a net loss of $333,000 in the same quarter of 2018.
For the nine-month period, revenue fell 11% to $7 million, compared with $7.9 million in the same period of 2018. The company's net loss increased to $973,000, compared with a net loss of $631,000 in the same period a year ago.
As for the future, the company expects its cobalt product sales to resume in the first quarter of 2020 and predicts that it will continue to benefit from increased revenue from its radiological services business.
