International Isotopes Inc. Announces Financial Results For The Second Quarter 2021
International Isotopes Inc. (OTCQB: INIS) reported a revenue of $2,759,896 for the second quarter of 2021, marking a 28% increase compared to $2,159,559 in Q2 2020. The revenue growth stemmed from higher sales in radiochemical products, cobalt products, and nuclear medicine standards, leading to an operating income of $14,722 versus a loss of $96,101 in the prior year. Notable increases included a 157% rise in cobalt product sales, aided by restored access to DOE resources, and a 14% growth in nuclear medicine sales.
- Revenue increased by 28% YoY to $2,759,896.
- Operating income turned positive at $14,722 versus a loss of $96,101 in Q2 2020.
- Cobalt product sales surged by 157% driven by successful procurement.
- Nuclear medicine product revenue rose by 14% spurred by new product launches.
- Sodium iodide I-131 drug product continues to see strong market acceptance.
- Net loss of $181,387 in Q2 2021 compared to a profit of $229,328 in Q2 2020.
- Total other expenses were negative at $179,054, a decline from positive income of $364,299 year-over-year.
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IDAHO FALLS, Idaho, Aug. 18, 2021 /PRNewswire/ -- International Isotopes Inc. (OTCQB: INIS) (the "Company" or "INIS") announces its financial results for the three months ended June 30, 2021.
Revenue for the three months ended June 30, 2021, was
The following provides a brief summary of our current business segment performance for the three-month period.
Revenue from the radiochemical products segment, which includes contact manufacturing, increased approximately
Revenue from the sale of cobalt products for the three months ended June 30, 2021, increased approximately
Revenue from nuclear medicine products, operating as RadQual LLC, for the three months ended June 30, 2021, increased approximately
Steve Laflin, President and CEO of the Company, said, "We are pleased to see the continued revenue growth in our three major business segments. Our radiochemical product sales are expected to remain strong for the remainder of the year. Our nuclear medicine products sales have continued to rebound from the negative impacts COVID-19 had on the industry and this business segment in 2020, and we have successfully introduced several new products in this business segment. We have been able to acquire some high activity cobalt from the DOE, and during the second quarter realized some of the first sales of this material in many years. We expect we will be able to acquire additional cobalt material and realize significant cobalt sales for the remainder of the year. Considering our expected performance of these three business segments, I continue to believe we will see stronger financial performance for the remainder of the year."
International Isotopes Inc. | |||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||
2021 | 2020 | 2021 | 2020 | ||
Sales of Product | |||||
Gross Profit | |||||
Total Operating Expenses | |||||
Operating Income (Loss) | ( | ( | ( | ||
Total Other Income (Expense) | ( | ( | |||
Net Income (Loss) | ( | ( | ( | ||
Net Income (Loss) Per Common Share | |||||
basic and diluted | |||||
Weighted Av. Shares Outstanding - Basic | 460,798,173 | 423,751,657 | 457,123,946 | 422,211,840 | |
Weighted Av. Shares Outstanding - Diluted | 460,798,173 | 432,629,537 | 457,123,946 | 422,211,840 |
About International Isotopes Inc.
International Isotopes Inc. manufactures a wide range of calibration and reference standards for nuclear medicine, generic sodium iodide I-131 drug product for hyperthyroidism and thyroid cancer, Cobalt-60 sealed source products, and provides contract manufacturing of various drug products for clients.
International Isotopes Inc. Safe Harbor Statement
Certain statements in this press release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, but not limited to, statements with respect to future performance of the Company's business segments and the impact that COVID-19 will, or will not have on our business performance and revenue growth. Information contained in such forward-looking statements is based on current expectations and is subject to change. These statements involve a number of risks, uncertainties and other factors that could cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements of the Company expressed or implied by these forward-looking statements. Other factors, which could materially affect such forward-looking statements, can be found in the Company's filings with the Securities and Exchange Commission at www.sec.gov, including its Annual Report on Form 10-K for the year ended December 31, 2020. Investors, potential investors, and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
FOR MORE INFORMATION, CONTACT:
David Drewitz
Creative Options Communications
Investor and Public Relations
david@creativeoptionscommunications.com
www.creativeoptionsmarketing.com
Phone: 972-814-5723
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SOURCE International Isotopes Inc.