IsoRay (ISR) Reports Prelim. Q2 Revenue of $1.54M

IsoRay, Inc. (NYSE American: 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 second quarter of fiscal 2018 ended December 31, 2017.

Preliminary revenue and gross profit for the second quarter of fiscal 2018:

• Preliminary revenue for the three months ended December 31, 2017, was $1.54 million compared to $1.03 million for the same period last year and $1.21 million in the first quarter of fiscal 2018. This represents increases of 50% year-over-year and 27% from the previous quarter.
• Preliminary gross profit for the three months ended December 31, 2017 was $0.53 million compared to a loss of $0.01 million in the prior year period and $0.27 million in the first quarter of fiscal 2018. Gross profit margin was 35% in the current period, negative in the second quarter of fiscal 2017 and 22% in the first quarter of fiscal 2018.
• Prostate brachytherapy represented 86% of total revenue for the second quarter of fiscal 2018 compared to 86% in the second quarter of fiscal 2017.

Preliminary revenue and gross profit for the first six-month period of fiscal 2018 ended December 31, 2017:

• Preliminary revenue for the six months ended December 31, 2017, was $2.75 million, compared to $2.11 million for the first six months of fiscal 2017, an increase of 30% year-over-year.
• Preliminary gross profit of $0.80 million compared to $0.05 million in the prior year quarter ended December 31, 2016, a 16-fold increase.
• Prostate brachytherapy represented 87% of total revenue for the first half of fiscal 2018 compared to 88% in the first half of fiscal 2017.

“IsoRay had a great second quarter, with revenue increasing 50% from the same period last year. This is the fourth consecutive quarter of year-over-year revenue increases, and is indicative of the increasing traction of our new sales strategies in the prostate brachytherapy market,” said Tom LaVoy, Chairman and CEO of IsoRay. “Our sales message, delivered by our highly experienced sales team, is resonating with an increasing number of practioners. These messages are further supported by the growing number of peer-reviewed published studies that demonstrate the unique qualities and resulting high effectiveness of Cesium-131. Gross profit improvement was driven by the revenue increase and our continuing focus on cost reductions and manufacturing and process improvements. We remain comfortable with the guidance we issued last quarter projecting that revenue would grow by not less than 20% in fiscal 2018, and reach approximately $5.8 million for the full year. We look forward to discussing full details of the second quarter results on our earnings conference call in mid-February.”

Unaudited interim financial information will be released with the filing of IsoRay's Quarterly Report on Form 10-Q, which will be filed with the U.S. Securities and Exchange Commission before the Company's mid-February 2018 deadline.

You May Also Be Interested In

• Hertz cuts guidance, announces notes and stock offerings, shares sink
• NXP Semiconductors names Mike Lucarelli as new investor relations head
• Radoff-JEC Group pushes for board seats at Seer amid proxy fight