IsoRay (ISR) Preliminary Q3 Revenue of $1.57 Million

IsoRay, Inc. (NYSE: ISR), a medical technology company and innovator in seed brachytherapy and medical radioisotope applications for the treatment of prostate, brain, lung, head and neck and gynecological cancers, today announced preliminary unaudited revenue and gross profit results for the third quarter of fiscal 2018 ended March 31, 2018.

Preliminary revenue and gross profit for the third quarter of fiscal 2018 was as follows:

• Preliminary revenue for the three months ended March 31, 2018, was $1.57 million compared to $1.28 million for the same three-month period last year and $1.54 million in the second quarter of fiscal 2018. This represents increases of 23% year-over-year and 2% from the previous quarter.
• Preliminary gross profit for the three months ended March 31, 2018, was $0.61 million compared to $0.29 million in the prior year three-month period and $0.53 million in the second quarter of fiscal 2018. Gross profit margin was 39% in the current period, 23% in the third quarter of fiscal 2017 and 35% in the second quarter of fiscal 2018.
• Prostate brachytherapy represented 83% of total revenue for the third quarter of fiscal 2018 compared to 88% in the third quarter of fiscal 2017.

Preliminary revenue and gross profit for the first nine-month period of fiscal 2018 ended March 31, 2018 was as follows:

• Preliminary revenue for the nine months ended March 31, 2018, was $4.32 million, compared to $3.39 million for the first nine months of fiscal 2017, an increase of 27% year-over-year.
• Preliminary gross profit was $1.41 million compared to $0.34 million in the prior year nine-month period ended March 31, 2017, a 315% increase.
• Prostate brachytherapy represented 86% of total revenue for the first nine months of fiscal 2018 compared to 88% in the first nine months of fiscal 2017.

“The preliminary revenue increase of 23% for our fiscal third quarter is in line with the guidance we’ve projected all year and represents IsoRay’s fifth consecutive quarter of year-over-year revenue growth. The results also solidify our confidence in the annual guidance that revenue would increase by not less than 20% in fiscal 2018 and reach approximately $5.8 million for the full year ending June 30th,” said Tom LaVoy, Chairman and CEO of IsoRay. “The strong sales results were driven by the increasing traction of our maturing sales force in the prostate brachytherapy market and were leveraged across the process and manufacturing improvements we have been putting in place. These actions resulted in a 39% gross profit margin, a significant improvement from the 23% in the third quarter a year ago. We look forward to discussing full details of the third quarter on our earnings conference call in early May.”

Unaudited interim financial information will be released with the filing of IsoRay's Quarterly Report on Form 10-Q, which is planned to be filed with the U.S. Securities and Exchange Commission in early May.

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