IsoRay reports beats on fiscal 4Q and full year revenue, but earnings per share loss widens slightly

Medical technology company IsoRay Inc (AMEX:ISR) reported beats in fiscal fourth quarter and full year revenue, but earnings per share loss widened slightly both for the quarter and the full year. 

IsoRay said in a statement that fiscal fourth quarter revenue reached $1.6 million, topping the consensus of $1.55 million and 17% higher than last year’s $1.37 million. Revenue for the full year was $5.92 million, up 24% from last year’s $4.76 million.

Earnings per share reported a loss for the quarter of $0.04, compared to the consensus of a loss of US$0.03 and the year-ago figure also of a loss of US$0.03. For the full year, the company reported an earnings per share loss of US$0.12, slightly above the full year ago level of a loss of $0.11.

Shares of the company closed Tuesday 3.57 % higher at US$0.58 and were down 8.6% in after-hours trade to US$0.53. 

READ: IsoRay shares tumble on news of secondary offering

“Fiscal 2018 sales growth was driven by the revitalized sales and marketing strategy that included significant investments in website design, product support literature and social media and public relations which are increasing the awareness of the company in the prostate brachytherapy treatment markets,” a statement said.

IsoRay’s Cesium-131 isotope received increasing interest from clinicians focused on treating brain and pelvic cancers, it added.

“The company realized a balance of overall revenue growth from both new and existing accounts. Gross profit as a percentage of revenue improved to 31.1% for the year ended June 30, 2018, versus 17.6% in the prior year comparable period. The improvement was driven by leveraging the manufacturing facility, personnel and better utilization of the isotope,” IsoRay said.

IsoRay, through its subsidiary, IsoRay Medical Inc, develops, manufactures and sells isotope-based products to treat cancer in the US. 

The company is based in Richland, Washington.

Story by ProactiveInvestors