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International Isotopes Inc. Announces Third Quarter And Nine Months 2013 Financial Results
Date:11/15/2013

erating expense are the result of management's continued efforts to reduce discretionary costs where possible and secure beneficial pricing on general operating purchases. Research and development expense incurred, with regard to the planning and construction of the proposed de-conversion facility we plan to build in New Mexico, decreased by approximately 48% and 29% for the three and nine months ended September 30, 2013, respectively, compared to the same periods in 2012.

Our net loss for the three months ended September 30, 2013 was $424,107, compared to $591,526 for the same period in 2012.  This is a decrease in loss of approximately 28%.  Our net loss for the nine-month period ended September 30, 2013, was $1,492,209 as compared to $1,696,905 for the same period in 2012.  This is a decrease in loss of approximately 12%.  The decrease in net loss is the result of the slight increase in gross profit percentage as well as a significant reduction in overall operating costs and expenses.

Steve T. Laflin, President and CEO of the Company said, "Despite the small decline in revenue seen this year we have been able to successfully control production costs and reduce operating expenses in order to improve gross profit and continue to move the Company towards profitability.  Part of that cost control involves placing additional engineering work and formal design activities for the planned Hobbs de-conversion facility on hold for the time being.
We are still confident that we will eventually be able to obtain contracts for additional de-conversion service and once we have fully committed the capacity of the facility under contract we will once again resume our search for financing the balance of the project and resume the schedule for design and construction.

"Delays in cobalt production activities and transfers have had the most detrimental
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SOURCE International Isotopes Inc.
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