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Richland's Isoray sales fall in third quarter

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.

“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; pjoshi@tricityherald.com; Business Beat blog at www.tricityherald.com.


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