Full Press Release Details
ANNOUNCES PRELIMINARY FISCAL YEAR 2006 RESULTS AND PROJECTED FIRST QUARTER
(BUSINESS WIRE) - Sept. 6, 2006 -
ISRY), a medical isotope company focusing on brachytherapy solutions for
prostate and other malignant tissue cancers through use of its proprietary
Cesium-131 radioisotope, announced its preliminary financial results for the
fiscal year ended June 30, 2006 and anticipated first quarter 2007 ending
September 30, 2006. The financial results reported today do not take into
account any adjustments that may be required in connection with the completion
and review process and should be considered preliminary until IsoRay files
Form 10-KSB for the fiscal year ended June 30, 2006 and Form 10-QSB for the
quarter ended September 30, 2006.
consolidated sales revenues for the year ended June 30, 2006 were $1,994,306,
988% increase over the $201,731 recorded in the year ended June 30, 2005. IsoRay
consolidated operating loss for the year ended June 30, 2006 was $6,958,148,
compared to an operating loss for the previous year of $3,983,199.
continues to gain in market share among leading physicians and we anticipate
reaching our first million dollar sales quarter in the first quarterly period
ending September 30, 2006; projecting gross revenues in excess of $1.1 million.
This will be the second straight quarter with double digit sequential revenue
Roger Girard, CEO of the Company. "Furthermore,
with completion of the approximate $5 million equity financing on August 17,
IsoRay is continuing to make significant progress towards achieving operating
breakeven levels within the 2007 calendar year."
Company estimates having approximately $5.9 million in cash reserves as of
Inc., through its subsidiary, IsoRay Medical, Inc., is the sole producer of
Cesium-131 brachytherapy seed, used to treat prostate and other cancers. The
Cesium-131 seed offers a significantly shorter half-life than the two other
isotopes commonly used for brachytherapy, which results in a substantially
faster delivery of therapeutic radiation, lower probability of cancer cell
survival and reduction of the longevity of common brachytherapy side effects.
IsoRay is based in Richland, Washington. More information is available about
IsoRay at www.isoray.com.
in this news release about IsoRay's future expectations, including: the
advantages of our Cesium-131 seed, revenues for the year ended June 30, 2006
for the quarter ending September 30, 2006, the level of market share and the
percentage increase in the existing quarter that our seed may attain, when
whether we will attain positive cash flow and all other statements in this
release, other than historical facts, are forward-looking statements. It is
important to note that actual results and ultimate corporate actions could
differ materially from those in such forward-looking statements based on such
factors as physician acceptance, training and use of our products, our ability
to successfully manufacture, market and sell our products, our ability to
manufacture our products in sufficient quantities to meet demand within required
delivery time periods while meeting our quality control standards, our ability
to obtain sufficient supplies of isotopes and other materials from suppliers,
our ability to maintain adequate quality control, including with the third
parties we rely on, to minimize reduction in orders from customers, and our
ability to enforce our intellectual property rights, and other risks detailed
from time to time in IsoRay's reports filed with the SEC.