IsoRay, Inc. (NYSE MKT:ISR) Q2 2019 Earnings Conference Call Transcript

Feb 12, 2019 • 04:30 pm ET


IsoRay, Inc. (NYSE MKT:ISR) Q2 2019 Earnings Conference Call Transcript


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Good day, ladies and gentlemen, and welcome to the IsoRay Second Quarter 2019 Call. All lines have been placed on a listen-only mode and the floor will be open for your questions and comments following the presentation. (Operator Instructions)

At this time, it is my pleasure to turn the floor over to your host, Mark Levin.

Mark Levin

Thank you, operator. Good afternoon and thank you for joining us today for the IsoRay fiscal second quarter 2019 earnings call for the quarter ended December 31, 2018. Before we get started, I will take a few minutes to read the forward-looking statements. Certain statements in this conference call constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as amended.

When used in this conference call words such as, will, believe, expect, anticipate, encourage, and similar expressions as they relate to the Company or its management, as well as assumptions made by and information currently available to the Company's management identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on management's current expectations and beliefs about future events. As with any projection or forecast they are inherently susceptible to uncertainty and changes in circumstances and the Company undertakes no obligation to and expressly disclaims any obligation to update or alter its forward-looking statements whether resulting from such changes new information, subsequent events or otherwise.

Additional information concerning forward-looking statements is contained under the headings of safe harbor statement or risk factors listed from time-to-time in the Company's filings with the Securities and Exchange Commission. Statements made on today's call are as of today, February 12, 2019.

We will begin today's call with Lori Woods, IsoRay's Chief Executive Officer. And then Jonathan Hunt, IsoRay's Chief Financial Officer will discuss the fiscal second quarter financial results. Following their prepared remarks, we will take questions from our analysts and institutional investors.

I will now turn the call over to Lori Woods.

Lori A. Woods

Thank you, Mark. Good

oon and thank you for joining us today. When I rejoined IsoRay six months ago, I made a commitment to progress. As part of the plan for the future I have been concentrating on key factors, including increasing revenue and with it, shareholder value and an unwavering focus on expanding market opportunity and growth. I believe this quarter makes an important statement. We are excited to report our seventh consecutive quarter of double-digit revenue growth ending this quarter up 24% from the year ago period.

Our core prostate brachytherapy revenue increased 29% year-over-year and included contribution from our Blu Build delivery system, which we launched in a limited capacity during the quarter.

The Company's record sales this quarter underscore what we have been able to accomplish in creating and sustaining momentum for our core prostate business. Just as importantly, it offers a view of what we believe will contribute to our opportunities for expanded market adoption. It becomes clear with each quarter's results, with the benefits of