Business

IsoRay sales decline in 3rd quarter

RICHLAND ---- IsoRay's sales fell in the third quarter of fiscal year 2010, the Richland medical isotope company announced this week.

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 IsoRay CEO Dwight Babcock.

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