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International Isotopes Inc. Announces First Quarter 2009 Financial Results
Date:5/19/2009

to increased sales of the radiochemical iodine. Revenue from nuclear medicine products for the three-month period ending March 31, 2009 were $488,986 compared to $447,410 for the same period in 2008 - an increase of $41,576, or about 9%. Revenue from radiological services segment for the three-month period ending March 31, 2009, were $80,353 compared to $245,722 for the same period in 2008; a decrease of $165,369 or 67%. The decline in this segment's revenue was largely attributable to a decline in the volume of gemstone processing. Current economic conditions are having a negative impact upon the gemstone industry which directly affects this segments performance.

Gross profit for the three-month period ended March 31, 2009, was $868,934 compared to $698,402 for the same period in 2008 - an increase of $170,532 or 24%. Operating expenses increased to $1,440,134 for the three-month period ended March 31, 2009, compared to $1,145,507 for the same period of 2008 - an increase of $294,627 or 26%. Operating costs have increased in the period comparisons due to increased general administrative and consultant expense related to engineering design, and licensing efforts to support the planned depleted uranium de-conversion and fluorine extraction process facility. This includes fluorine extraction pilot plant demonstrations, efforts related to raising additional capital, and the consulting services of our subcontractor, Advanced Process Technology Services (APTS). We also realized a significant increase in stock based compensation expense. Salaries and contract labor expenses for the three-month period ended March 31, 2009 were $536,054 as compared to $512,612 for the same period of 2008. General administrative expenses totaled $898,645 for the three-month period ended March 31, 2009 as compared to $617,167 for the same period of 2008.

Our net loss for the three-month period ended March 31, 2009 was $587,927 compared to a loss
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SOURCE International Isotopes Inc.
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