International Isotopes Suffers Net Loss in 2Q

International Isotopes reported yesterday another net loss for the second quarter, continuing its stretch of poor financial performances that have dated back to last year. The company reported a net loss of $528,298 for the second quarter of 2014, an increase in loss of approximately 33 percent compared to the net loss of $399,210 in the same period of 2013. For the six-month period of 2014, International Isotopes has suffered a net loss of $980,503, a decrease in loss of approximately nine percent compared to the net loss of $1,068,102 for the same period in 2013.

The company, though, focused more on its ability to achieve a positive cash flow for the first six months. According to International Isotopes, the company had cash and cash equivalents of $810,309 as compared to $456,374 for the same period in 2013, an increase of approximately 77 percent. The company attributed the increased cash to stronger sales, reduced operating expense, and the reduction of outstanding accounts receivable. “Achieving positive cash flow for the Company during the first six months of the year is a very significant accomplishment and a sign we are putting appropriate cost control measures in place and continuing to move revenue in the right direction,” International Isotopes President and CEO Steve Laflin said in a statement. “While there can certainly be no guarantee of continued positive cash flow, this is nonetheless worth noting and is the first time we have achieved positive cash flow over a six month period independent of any financing activities.”