International Isotopes revenues slide in 2019

2020 02 06 18 18 1550 Business Financial Results 400

Strong growth in radiochemical product sales wasn't enough to overcome sharp declines for radioisotope manufacturer International Isotopes in cobalt sales and radiological services in 2019.

For the period (end-March 31), the company had total revenues of $9 million, down 14% from the $10.4 million reported in 2018. During the year, radiochemical products sales climbed 26% due largely to the addition of contract manufacturing operations. Sales of nuclear medicine standards increased by 4% during the year. However, cobalt sales dropped by 59%, while revenues from the company's radiological services business fell by 58%, according to the firm.

International Isotopes had a 2019 net loss of $1.5 million, compared with a net loss of $845,000 in 2018. The company attributed the higher net loss to increased operating costs, expenses related to a decontamination event involving a breached cesium-137 source, and the resultant loss of additional field service contract work following that event.

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