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International Isotopes Inc. Announces 2010 Year End Financial Results
Date:4/4/2011

IDAHO FALLS, Idaho, April 4, 2011 /PRNewswire/ -- International Isotopes Inc. (OTC Bulletin Board: INIS) announces the financial results for fiscal year ended December 31, 2010.

Results of OperationsThe Company reported total revenue of slightly over $6.1 million for 2010, about 1% less than the previous year.  The net loss reported for 2010 increased by approximately 49% driven by the Company's increased expenses related to the engineering consulting, and licensing activities for the proposed uranium de-conversion and fluorine extraction facility.  The Company's gross profit rate increased from 33% in 2009 to 41% in 2010.  This increase was due primarily to a write-down in cobalt inventory in 2009.

RevenueTotal revenue in 2010 was $6,107,281, compared to $6,122,844 in 2009, which represents a decrease of $15,563 or less than 1%.  The small decrease in revenue was the result of decreases in sales in three business segments: Nuclear Medicine Standards, Radiological Services, and Transportation Services.

Cobalt Products

Sales of total cobalt products increased by 3% to $2,250,049 in 2010, as compared to $2,180,445 in 2009.  Bulk cobalt sales increased by $115,303, or 12%, from 2009 to 2010. Sales of cobalt products excluding bulk cobalt sales decreased by 4% to $1,169,881, as compared to $1,215,580 in 2009. Cobalt recycle decreased by 27% in 2010, as compared to 2009, which was in large part due to a reduction in gamma knife unit source replacements which is believed to be a result of current economic conditions and medical facilities continuing to defer gamma source exchanges as a cost saving measure.  

Sales of sealed source products increased 2% in 2010, as compared to 2009, and can be attributed to increased sales of sealed sources in foreign markets, particularly South America.  Although world ec
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SOURCE International Isotopes Inc.
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