International Isotopes’ net loss for the first half of 2018 was 79 percent smaller than the number for the same period of last year, according to the latest earnings report from the Idaho Falls, Idaho, nuclear medicine specialist.
Net loss dropped from nearly $1.4 million to $297,875 on a year-over-year basis, International Isotopes said Wednesday. The figures for the second quarter, ended June 30, were similarly heartening if not as large: a net loss of $332,279 in second-quarter 2018, falling by 45 percent from the $602,195 loss a year earlier.
Revenue, meanwhile, was up for both earnings periods. For the second quarter, the company raised its take by 34 percent, from $1.8 million in 2017 to $2.4 million in 2018. The half-year results showed a 43 percent sales boost, from $3.6 million to $5.2 million.
“The decrease in net loss for both periods was largely the result of the overall increase in revenue,” the company said in a press release. “The significant increases in revenue and decreased net loss for the period comparisons was largely driven by the performance of the Company’s cobalt products, nuclear medicine products, and radiological services, business segments.”
For cobalt products, revenue skyrocketed by 284 percent in the second quarter, from $84,643 in 2017 to $324,768 in 2018, according to a 10-Q filing with the U.S. Securities and Exchange Commission. Nuclear medical products revenue for the quarter rose by 15 percent year over year, from $834,698 to $962,674. And radiological services revenue was up by 63 percent, from $307,666 to $505,520.
A fourth business segment, fluorine products, is still generating no revenue. International Isotopes would sell gases produced at a still unbuilt depleted uranium deconversion facility in Lea County, N.M.
In the company’s fifth and final business branch, radiochemical products, sales jumped by 8 percent, from $558,817 in second-quarter 2017 to $602,344 for the corresponding period of 2018, the 10-Q says.
