Strong sales gains in its radiochemical and radiological services segments boosted radioisotope manufacturer International Isotopes to an 8.4% increase in revenue in its first quarter.
For the period (end-March 31), the company had $1.8 million in revenues, up from $1.7 million reported in the first quarter of 2016. Radiochemical services revenues increased by 61% during the period, while radiological services revenues rose by 51%, according to the firm.
On the downside, revenue from the company's nuclear medicine standards segment dipped by 1%, primarily due to lower sales reported by its consolidated joint venture, TI Services. The segment produced an approximately 19% increase in net income, however, due to improvements in manufacturing efficiencies, International Isotopes said. Cobalt product sales were also down approximately 30% from the same period a year ago.
International Isotopes had a first-quarter net loss of $786,000, compared with a net loss of $375,000 in the first quarter of 2016. The company attributed the higher net loss primarily to increased operating expenses.
