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

enses for 2010 were $8,821,498, as compared to $6,626,059 in 2009, an increase of  $2,195,439 or 33%.  Salaries and Contract Labor decreased 10% in 2010, as compared to 2009, due to modest salary and wage adjustments and decreased contract labor costs. General, Administrative and Consulting expenses decreased 11% due to our continued aggressive efforts to economize in all areas of general and administrative costs.

The significant increase in Research and Development expense is a result of costs associated with the planned uranium de-conversion facility.  In 2010, Research and Development costs increased by $2,620,730, to $5,230,564, as compared to $2,609,834 in 2009.  The increase is almost entirely the result of increased expenses in the planning, design and licensing of the planned de-conversion facility.  Research and Development with regard to the de-conversion facility totaled $5,215,351 in 2010, or approximately 99.7% of the all Research and Development expense. This level of Research and Development expense for 2010 was anticipated and was incurred as a result of efforts to support NRC license review and increased subcontractor support for the project.  The costs were incurred only to the extent funding became available.  We expect to continue to incur significant Research and Development expenses in 2011 based on our ability to raise additional funds for the uranium de-conversion project.

Net LossOur Net Loss was $6,802,014 in 2010, compared to a Net Loss of $4,580,925 in 2009.  The increase of $2,221,089, or approximately 49%, was primarily attributable to the research and development expense related to the NRC licensing review costs and expanded engineering work incurred on the planned de-conversion facility.

Steve Laflin, President and CEO said, "Obviously this was a flat year for our core business segments  but a very important and critical year in our overall business model tran
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SOURCE International Isotopes Inc.
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