IsoRay’s sales fell in the third quarter of fiscal year 2010, the Richland medical isotope company announced Wednesday, May 12.
Sales revenue for the quarter ending March 31 was about $1.2 million compared with more than $1.3 million in the third quarter of fiscal 2009. IsoRay makes Proxcelan Cesium-131 seeds, used largely to treat prostate cancer.
The company’s gross income increased to $52,486 in the quarter, compared with $15,245 in the third quarter of fiscal 2009.
Its net loss of approximately $1.1 million for the three months represented a 26 percent improvement over the same period in 2009 when IsoRay lost about $1.5 million.
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“While sales are not where we want them to be, we have completed our first phase of right-sizing IsoRay as we prepare for future growth,” said Dwight Babcock, IsoRay’s chairman and CEO.
“We are continuing to evaluate numerous FDA-cleared devices that would expand the use of our proprietary isotope in both seed and liquid form. In addition, we are investigating other non-medical uses of our isotope to further help secure a strong revenue base."
-- Pratik Joshi: 582-1541; firstname.lastname@example.org; Business Beat blog at www.tricityherald.com.
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