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IsoRay Inc. (ISR) filed Quarterly Report for the period ended 2011-09-30.
Isoray has a market cap of $20.04 million; its shares were traded at around $0.76 with and P/S ratio of 3.83.
This is the annual revenues and earnings per share of ISR over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of ISR.
Highlight of Business Operations:
Revenues. Total revenues for the three months ended September 30, 2011 decreased 9% as compared to the three months ended September 30, 2010. The overall decrease of 9% was a combination of an 11% decrease in revenue from prostate brachytherapy and partially offset by a 20% increase in revenue directly attributable to other treatments which include the treatment of lung cancer, brain cancer, colorectal cancer, gynecological cancer, and head and neck cancer.The other treatments, which include lung cancer, brain cancer, colorectal cancer, gynecological cancer and head and neck cancer treatments, experienced continued growth at a rate of 20% in the three months ended September 30, 2011 compared to the three months ended September 30, 2010. The growth in other revenue is attributed to an increased acceptance of Cesium-131 as a clinically effective treatment method for these additional body sites. The increased acceptance of the Cesium-131 brachytherapy seeds is the result of physicians continuing positive experiences using Cesium-131 in the treatment of these new modalities. As of September 30, 2011, there have been over 100 such treatments at major cancer centers across the United States. All non-prostate treatment revenue represents approximately 10% of revenues during the three months ended September 30, 2011 compared to approximately 7% of revenues in the three months ended September 30, 2010.
Gross income. Gross income decreased by $149,258 to gross income of $66,342 in the three months ended September 30, 2011 from gross income of $215,600 in the three months ended September 30, 2010. The decrease of 69% is attributed primarily to a decrease in sales of $113,710 created by a temporary change in the referral pattern in July of a key customer and a temporary increase in cost of product sales of $35,548 resulting from the use of a U.S. based source of Cesium-131 while the reactors in Russia were offline.
Sales and marketing expenses. Sales and marketing expenses were reduced by 16% in the three months ended September 30, 2011 as compared to the three months ended September 30, 2010. The costs were reduced from $373,425 in the three months ended September 30, 2010 to $314,418 in the three months ended September 30, 2011. The reduction of $59,007 is a result of reductions in consulting and payroll, benefits and share-based compensation. Consulting cost was decreased by approximately $17,000 as the result of a consultant no longer being utilized by the Company and payroll, benefits and share-based compensation was decreased by approximately $48,000 as the result of both a change in the composition of sales force and the length of their tenure with the Company.
Operating loss. The operating loss for the three months ended September 30, 2011 increased $233,837 from $868,480 for the three months ended September 30, 2010 compared to $1,102,317 for the three months ended September 30, 2011. The operating loss increase of $233,837 or 27% is primarily attributed to the decrease in sales and the increased cost of product sales.
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