International Isotopes Inc. Announces Financial Results for the First Quarter 2018

IDAHO FALLS, Idaho, May 21, 2018 /PRNewswire/ -- International Isotopes Inc. (OTCQB: INIS) (the "Company") announces its financial results for the first quarter ended March 31, 2018.

Revenue for the three months ended March 31, 2018 increased approximately 53% as compared to the same period in 2017. This increase in revenue was the result of revenue increases in three of the Company's four major business segments.

The Company's cost of sales increased approximately 41% for the three months ended March 31, 2018 compared to the same period in 2017, and gross profit for the three months ended March 31, 2018 increased approximately 68% compared to the same period in 2017.  Operating expense decreased approximately 19% for the three months ended March 31, 2018, compared to the same period in 2017 largely due to a decrease in General, Administrative and Consulting costs.

The Company had a net income for the three months ended March 31, 2018 of $34,404, compared to a net loss of $786,266, for the same period in 2017.  This is an increase in net income of $820,670, and is the result of increased sales, reduced production costs, and a reduction in operating cost for the period.  The following provides some additional detail on the business performance of each of the Company's business segments.

Revenue from the Company's radiological services segment increased approximately 360% for the three months ended March 31, 2018 compared the same period in 2017.  The increase in revenue was expected by the Company and attributed to an increase in field service work the Company performed for the International Atomic Energy Agency (IAEA).  While the Company notes that it expects to continue to see some significant contract opportunities in this segment, these contracts are awarded randomly over time and thus are expected to create fluctuations in the period-to-period comparisons within the radiological services segment.

The Company's revenue from the sale of cobalt products for the three months ended March 31, 2018 increased approximately 49% compared to the same period in 2017.  Sales within this segment are highly dependent on production of bulk cobalt from the U.S. Department of Energy's (DOE) reactor in Idaho.  Cobalt production from the reactor is on track to resume later in 2018, and in the meantime, the Company has been able to secure an alternate supply of cobalt to help resume production and sales within the segment.

Revenue from nuclear medicine products by the Company for the three months ended March 31, 2018 increased approximately 24% compared to the same period in 2017.  The 24% increase in revenue was largely attributed to the start of consolidated reporting of RadQual LLC (RadQual) within this segment due to the change in member ownership of RadQual, beginning in August 2017.  The Company expects continued growth in sales of new and existing products in the nuclear medicine segment going forward as a result of the change in RadQual management and control.

Revenue from the sale of radiochemical products for the three months ended March 31, 2018 decreased approximately 5% compared to the same period in 2017.  The decrease in revenue for the period-to-period comparison was largely the result of an interruption in material supply caused by a regulatory shutdown of one of the Company's major isotope suppliers.  The Company reports that the supplier has resumed full production operations and the Company has taken steps to secure alternate supplies of product which should reduce the risks and vulnerabilities caused by relying upon a single producer.

Steve Laflin, President and CEO of the Company, said, "The strong performance by most of our business segments in the first quarter has resulted in the first net profit reported for a quarter period in more than a decade.  While we are likely to continue to see some fluctuations in segment performance over the coming year, we believe the Company is on a clear path towards increased revenue and future profitability.  We believe that the combination of continued significant contract opportunities within the field services segment, the resumption of normal bulk cobalt production in the DOE reactor, the change in ownership and management control of RadQual, and the prospects for new generic drug products, all collectively lead us to expect continued improvement in the future financial performance of the Company." 

About International Isotopes Inc.
International Isotopes Inc. manufactures a full range of nuclear medicine calibration and reference standards, a variety of Cobalt-60 products, and provides a wide selection of radioisotopes and radiochemical for medical applications, calibration, and clinical research.  The Company also provides radiological services including source installation/removal, and decommissioning of various radiation units on a contract basis to clients.

International Isotopes Inc. Safe Harbor Statement
Certain statements in this press release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements with respect to significant contract opportunities within the field services segment, the resumption of normal bulk cobalt production in the DOE reactor, the change in ownership and management control of RadQual, the prospects for new generic drug products, and management's expectations for continued improvement in financial performance of the company.  Information contained in such forward-looking statements is based on current expectations and is subject to change.  These statements involve a number of risks, uncertainties and other factors that could cause actual results, performance or achievements of International Isotopes Inc. to be materially different from any future results, performance or achievements of the Company expressed or implied by these forward-looking statements.  Other factors, which could materially affect such forward-looking statements, can be found in the Company's filings with the Securities and Exchange Commission at www.sec.gov, including its Annual Report on Form 10-K for the year ended December 31, 2017.  Investors, potential investors, and other readers, are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements.  The forward-looking statements made herein are only made as of the date of this press release and International Isotopes, Inc. and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

FOR MORE INFORMATION, CONTACT:

David Drewitz
Creative Options Communications
Investor and Public Relations
[email protected]
www.creativeoptionsmarketing.com
Phone:  972-814-5723

SOURCE International Isotopes Inc.