Company Shows a 19% Increase In Total Revenue To $5.6 Million; 34% Increase in Gross Profit
IDAHO FALLS, Idaho, March 27 /PRNewswire-FirstCall/ -- International Isotopes Inc. (OTC Bulletin Board: INIS) announces the financial results for fiscal year ended December 31, 2008.
Total Revenue. Total revenue in 2008 was $5,602,443 compared to $4,690,588 in 2007, which represents an increase of $911,885 or 19.4%. The overall increase in revenue was the result of a significant increase in the performance of several business segments. The following table provides a brief summary of the revenue performance in each of the Company's business segments.
Business Segment Area 2008 2007 Percent Change Nuclear Medicine Products $1,864,099 $1,819,049 2% Radiochemical Products $1,379,906 $1,062,477 30% Cobalt Products $1,616,020 $1,064,727 52% Radiological Services $634,201 $590,160 7% Transportation $108,217 $154,175 (30%) Total Revenue $5,602,443 $4,690,588 19%
Cost of Revenue and Gross Profit. Cost of revenue for 2008, was $2,879,839 compared to $2,660,781 in 2007, an increase of $219,058 or 8%. Gross profit for 2008, was $2,722,604 compared to $2,029,807 in 2007, which represents an increase of 34%. The increase in gross profit was attributable to successful control of production costs and implementation of manufacturing process improvements over the course of the year. The higher gross profit is even more significant in light of the increases in manufacturing expenses attributed to certain raw materials and higher fuel prices encountered during 2008.
Operating Costs and Expenses. Tot
|SOURCE International Isotopes Inc.|
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