International Isotopes reported losses for the fiscal 2007 third quarter (end-Sept. 30).
For the quarter, the Idaho Falls, Idaho-based company reported revenue of $1,486,112 as compared to $1,458,260 for the same period in 2006.
International Isotopes posts a net loss for third quarter 2007 of $276,287 as compared to losses from operations of $165,741 for the same quarter last year. The company attributes the loss to an increase in general and administrative expenses caused by changes in accounting standards requiring costs to be incurred attributable to stock options; legal expenses related to patent work on newly developed intellectual property; and FEP equipment depreciation expenses.
Steve Laflin, president and CEO of International Isotopes, said, “The increase in operations expenses are the result of newly included depreciation expense and implementation of new accounting standard costing requirements for employee stock options. The company also incurred significant legal expenses related to patent development and the protection of additional intellectual property developed by our fluorine products division. I am confident the investments we are making in intellectual property and the business model we have developed and are strategically implementing, should produce some significant positive accomplishments in coming quarters. We are committed to building shareholder value.”