Business & Finance
International Isotopes reports H1 2020 financial results
19 August 2020 -

United States-based International Isotopes Inc (OTCQB: INIS) has reported its financial results for the six months ended 30 June2020, it was reported on Tuesday.

The company reported revenue for the six-month period ended 30 June 2020 at USD4,495,345, down 4% compared to USD4,663,691 for the year-ago period.

The firm posted net income of USD193,166 in the six-month period ended 30 June 2020, compared to USD1,209,151 for the same period in 2019.

Steve Laflin, president and CEO of the company, said, 'We are pleased with the continued improvement in our financial performance driven largely by revenue growth in our radiochemical segment. Certainly, the COVID-19 pandemic has negatively impacted the revenue growth within this segment and our nuclear medicine products segment. However, we believe that many of the medical procedures related to both of these segments have been delayed, not cancelled, and there should be a pent-up demand for these products. We are also working toward the launch of several new products within the nuclear medicine segment and are completing our construction and start-up for contract manufacturing of the Progenics Azedra product. Barring greater negative impact from COVID-19 the Company should be able to continue to improve our financial performance for the remainder of the year.'