INTERNATIONAL ISOTOPES INC. ANNOUNCES FISCAL RESULTS FOR THE FIRST QUARTER OF 2024
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Theranostics Products Revenues Increased 8% in the Three Months Ended
March 31, 2024 ; -
Net Cash Provided By Operating Activities Was Approximately
$400,000 in the Three Months EndedMarch 31, 2024 ; -
Gross Profit Increased 5% in the Three Months Ended
March 31, 2024 .
Revenue for the three months ended
The Company reported a net loss for the three months ended March 31, 2024, of
As of
The following provides a summary of our current business segment performance for the three-month period ended
Theranostics Products
Revenue from the Theranostics Products segment increased approximately 8% for the three-month period ended
Nuclear Medicine Segment
Revenue from nuclear medicine products for the three months ended March 31, 2024, was
Cobalt Products
Revenue from the sale of Cobalt Products for the three months ended March 31, 2024, was
Medical Devices
Medical Devices is a new reportable business segment starting in the first quarter of 2024. While we have not yet commercialized any medical devices, we have invested in this segment throughout 2023 and 2024 and anticipate additional investments for the remainder of 2024 with commercialization of products starting later in 2024. This segment will include The Swirler® and Tru-Fit™ Mouthpiece with related accessories under the RadVent brand. Additionally, the Company has investments in a joint venture arrangement for our EasyFill Automated Iodine Capsule System.
"We are encouraged by the growing demand of our non-Cobalt-57 products and reached various development milestones for new Nuclear Medicine and Medical Device products. We believe the Company will begin commercialization of these new products in the second half of 2024."
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Three months ended |
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2024 |
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2023 |
Change |
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% |
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Sale of product |
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$ |
2,904,458 |
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$ |
3,089,535 |
$ |
(185,077) |
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(6 %) |
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Gross profit |
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$ |
1,866,111 |
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$ |
1,780,036 |
$ |
86,075 |
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5 % |
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Operating Income (Loss) |
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$ |
(266,196) |
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$ |
(147,572) |
$ |
(118,624) |
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(80 %) |
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Total Other Income (Expense) |
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$ |
112,145 |
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$ |
(482) |
$ |
112,627 |
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233 % |
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Net Income (Loss) |
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$ |
(154,051) |
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$ |
(148,054) |
$ |
(5,997) |
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(4 %) |
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Net income per common share – basic & diluted |
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$ |
- |
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$ |
- |
$ |
- |
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Weighted average common shares outstanding - basic |
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520,167,183 |
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515,566,825 |
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Weighted average common shares outstanding - diluted |
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520,167,183 |
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515,566,825 |
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About
Certain statements in this press release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements with respect to the Company's future growth expectations. 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
FOR MORE INFORMATION, CONTACT:
Investor and Public Relations
david@creativeoptionscommunications.com
www.creativeoptionsmarketing.com
Phone: 972-814-5723
View original content:https://www.prnewswire.com/news-releases/international-isotopes-inc-announces-fiscal-results-for-the-first-quarter-of-2024-302147291.html
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