International Isotopes reports 17% first quarter gain

Kathy Mahdoubi | | Health Imaging | Molecular Imaging

Idaho Falls, Idaho, producer of nuclear medicine products and services International Isotopes announced May 15 the financial results for the first quarter 2014. Revenue was reported as $1,948,856, up 17 percent from $1,672,789 for the same timeframe last year.

The company attributes this growth to an increase in revenue from cobalt products and radiological services. However, revenue from the company’s radiochemical sector lagged at $418,404, down 5 percent from $440,020 in the same period of 2013. The slip was said to be due to a supply chain stalemate involving iodine-131 production during the fourth quarter of 2013. An alternative source was found and normal product supply resumed in April.

Nuclear medicine products brought in $813,523 in the first quarter, down 10 percent from to $908,266 in revenue that came in during the first quarter of last year. This reflected a drop in sales for partners RadQual in the company’s nuclear medicine, cardiology and PET/CT products and services segment. A major factor was reportedly the ongoing reduction of paper products associated with nuclear medicine procedures.

That said, International Isotopes’ cobalt product sales went through the roof with a 183 percent increase in revenue, or $541,948 in the first quarter compared to $191,266 during the same time the previous year.

Kathy Mahdoubi

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