IsoRay (ISR) Reports Q2 Loss of 2c/Share

IsoRay (NYSE: ISR) reported Q2 EPS of ($0.02), versus ($0.02) reported last year. Revenue for the quarter came in at $1.19 million, versus $1.07 million reported last year.

Operating expenses were $1.44 million compared to $0.98 million in the second quarter of last fiscal year. Operating loss was $1.41 million compared to $1.02 million loss in the comparable period of the last fiscal year. The increased operating loss for the quarter is attributed to an increase in legal costs of approximately $0.2 million and accrual of $0.3 million for CEO severance costs. The increased legal costs are a result of the Company's defense of its pending class action lawsuit. By the end of the second quarter of fiscal 2016, the Company had incurred all but approximately $40k of its self-insurance retention to defend this lawsuit, and once these amounts have been paid, all future costs are expected to be paid out of the Company's directors and officers insurance coverage. IsoRay had cash and cash equivalents and certificates of deposits of $17.76 million as of December 31, 2015 and no debt.

For earnings history and earnings-related data on IsoRay (ISR) click here.

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