IDAHO FALLS, Idaho, May 15 /PRNewswire-FirstCall/ -- International Isotopes Inc. announces financial results for the first quarter period ended March 31, 2006.
The Company is reporting an aggregate loss for the three-month period ended March 31, 2006 of $141,993 compared to a loss of $229,171 for the same period in 2005. This represents a reduction in loss of $87,178 for the periods in comparison.
REVENUE: Revenue for the three-month period was $1,196,943, as compared to $685,567 for the same period in 2005, which represents an increase of $511,376 or 75%. A significant portion of the increase was attributable to the timing of cobalt sales in 2006 compared to 2005. However, the Company realized a 32% increase in revenue for the period even after excluding cobalt product sales. Because of the significant impact of the timing of cobalt product sales, management believes that excluding sales of cobalt products from the period comparisons of revenues provides useful information to investors. Please refer to the tables below for a further analysis of this measure.
Three-Month Financial Measure Reconciliation Period ended Period ended March 31, 2006 March 31, 2005 Total Revenues $1,196,943 $685,567 Cobalt Products Revenues $393,086 $76,375 Total Revenues Excluding Cobalt Products Revenues $803,857 $609,192
GROSS PROFIT: Gross profit for the three-month period ended March 31, 2006 was $571,335 (48% of revenue) compared to $332,820 (or 49% of revenue) for the same period in 2005. Operating expenses increased to $673,465 for the three- month period ended March 31, 2006, compared to $524,545 for the same period of 2005, an increase of $148,920 or 28%. The increase in operating expense was attributed to the addition of staff to support INIS’s new Transportation Services subsidiary and other operational expenses related to the Fluorine Products segment.
Steve T. Laflin, President and CEO said, “Our core business segments continue to demonstrate strong growth. Revenue from Nuclear Medicine Products, Radiological Services, and Radiochemical Products increased 23%, 71%, and 25% respectively. While we are still reporting an aggregate loss for the quarter, the loss is due mainly to our commitment to drive revenues higher by launching new business initiatives such as our Fluorine Products and Transportation Services subsidiaries. We believe these new initiatives will be a positive contributor to the overall business as the year unfolds. I remain confident the Company will continue to see strong revenue growth across all business segments, which should have a positive effect on our financial performance for the remainder of the year. I would like to thank our shareholders for their continued support.”
International Isotopes Inc. Three Months March 31 2005 2006 Change Sales of Product $685,567 $1,196,943 75% Gross Profit $332,820 $571,335 72% Total Operating Expenses $524,545 $673,465 (28%) Operating (Loss) ($191,725) ($102,130) 47% Total Other (Expense) ($37,446) ($39,863) (6%) Net (Loss) ($229,171) ($141,993) 38% Net (Loss) Per Common Share basic and diluted ($0.00) ($ 0.00) Weighted Average Share Outstanding basic and diluted 175,071,305 209,112,994 About International Isotopes Inc.
International Isotopes Inc. manufactures a full range of nuclear medicine calibration and reference standards, high purity fluoride gases, and a variety of cobalt-60 products such as teletherapy sources. The Company also provides a wide selection of radioisotopes and radiochemicals for medical devices, calibration, clinical research, life sciences, and industrial applications and provides a host of analytical, measurement, recycling, and processing services on a contract basis to clients.
International Isotopes Inc. Safe Harbor Statement
Forward-looking statements in this press release relating to the Company’s future outlook, revenue growth and increased profits are made pursuant to the safe harbor provision of the federal securities laws. Information contained in forward-looking statements is based on current expectations and is subject to change. Actual results may differ materially from the forward-looking statements. Many factors could cause actual results to differ materially from the forward-looking statements. Readers are directed to read the risk factors detailed from time to time in our filings with the Securities and Exchange Commission, including our annual report on Form 10-KSB for the year ending December 31, 2005. The Company does not intend to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
For More Information, Contact:
Steve Laflin, President and CEO
(208) 524-5300
International Isotopes Inc.
CONTACT: Steve Laflin, President and CEO of International Isotopes Inc.,+1-208-524-5300
Web site: http://www.intisoid.com/
