International Isotopes Inc. reported a net loss of $1.2 million in the first quarter of 2010, which ended 3/31/2010. The company lost $0.60 million in the same quarter in 2009.
International Isotopes Inc. attributed the higher net loss to increased expenditures on research and development expenses, and higher manufacturing expenses related to the conversion of facilities to other uses.
International Isotopes Inc. reported that revenue in the first quarter of 2010 was $1.3 million, a 35% decline from the same quarter in 2009.
The management of International Isotopes Inc. noted that a supply disruption in its nuclear medicine business segment was responsible for a large part of the revenue decline.
“Our nuclear medicine business segment was adversely affected by the supply interruption of some isotope supplies which had a negative effect upon nuclear medicine imaging procedures, and subsequently upon our nuclear medicine calibration products,” said Steve T. Laflin, the CEO of International Isotopes Inc.
Laflin said that the supply disruption should clear up over the balance of 2010, and that sales would pick up by the end of 2010.
International Isotopes Inc. manufactures and sells isotope related products including ones containing Barium, Cobalt and Iodine. The products are used in the Medical and Security fields.
For more information, visit www.intisoid.com