Medical isotope developer IsoRay Medical of Richland, WA, saw a 23% decline in sales for the firm's third quarter of fiscal 2009 (end-March 31), but the company was able to reduce its net loss.
For the period, IsoRay posted sales of $1.4 million, compared with $1.8 million in the same period of fiscal 2008. The firm's net loss dropped to $1.5 million, compared with $2.1 million in the same quarter a year ago.
IsoRay said it believes that the decline in sales revenue resulted from decreased sales volume and is partially attributable to a lower average invoice price from the expanded use of the company's seeds in dual-therapy cases, which typically use fewer seeds.
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