International Isotopes President Steve Laflin says the Idaho Falls-based company continues strong in its core fields of operation: nuclear medicines, nuclear products and cobalt.
The company released its year-end 2009 report showed revenues of $6.1 million, up $520,401 from $5.6 million in 2008.
Laflin attributes the overall increase in revenue as mostly a result of increases in sales in cobalt, radiochemical products and transportation, according to a release. Total revenue in 2009 was $6,122,844 compared to $5,602,443 in 2008, which represents an increase of $520,401 or 9 percent.
International Isotopes Inc. manufactures nuclear medicine calibration and reference standards, high purity fluoride gases, and a variety of cobalt-60 products such as teletherapy sources. The company also provides a selection of radioisotopes and radiochemicals for medical devices, calibration, clinical research, life sciences, and industrial applications, as well as analytical, measurement, recycling and processing services on a contract basis.
Laflin said, “We continued to build our various business segments, make investments into facilities and infrastructure, launch new products, and enter into new agreements we believe will increase our future revenue. Broadly defined, our business strategy is to continue to build our reputation as a leader in the nuclear medicine, and nuclear products industries.”
He said work on the nation’s first commercial depleted uranium de-conversion and fluorine extraction process facility in New Mexico is progressing. During 2009, a conceptual design report for the facility was completed and a location near Hobbs, N. M., was selected with an agreements from the New Mexico Environment Department being prepared and submitted so licensing could proceed with the Nuclear Regulatory Commission.
Laflin said there will be expenditures on the New Mexico project are the NRC review progresses and state permits are acquired.
He said during the coming year engineering, design and construction planning will continue.
“This project represents a significant commercial opportunity for the company and our shareholders,” he said. “It will continue to require continued significant capital investment by the company.”