More orders for its Proxcelan cesium-131 brachytherapy seeds to treat prostate cancer helped increase sales for IsoRay of Richland, WA, in the company's third quarter of fiscal 2008.
For the period (end-March 31), sales increased 8% to approximately $1.8 million, compared with $1.6 million in the same period of 2007. The company, however, posted a net loss of $2.2 million, compared with a net loss of $2 million in the third quarter of 2007.
IsoRay attributed the greater net loss primarily to depreciation costs of its new facility, increases in isotope cost, increased occupancy costs of the new facility, and a small increase in sales and marketing.
For the nine-month period, sales increased to $5.4 million, compared with $4.1 million in the same period of 2007. The net loss grew to $7.1 million, compared with a net loss of $6.9 million in the same period last year.
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