IsoRay, Inc. (NYSE MKT:ISR) Q3 2019 Earnings Conference Call Transcript

May 09, 2019 • 04:30 pm ET

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IsoRay, Inc. (NYSE MKT:ISR) Q3 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good day, ladies and gentlemen, and welcome to the IsoRay Third Quarter Fiscal 2019 Call. All lines have been placed in a listen-only mode and the floor will be open for your questions and comments following the presentation. (Operator Instructions). At this time, it's my pleasure to turn the floor over to Mr. Mark Levin. Sir, the floor is yours.

Executive
Mark Levin

Thank you, operator. Good afternoon and thank you for joining us today for the IsoRay fiscal third quarter 2019 earnings call for the quarter ended March 31st, 2019.

Before we get started, I will take a few minutes to read the forward-looking statement. 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.

These 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 and 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, May 9th, 2019.

We will begin today's call with Lori Woods, IsoRay's Chief Executive Officer. And then Jonathan Hunt, IsoRay's Chief Financial Officer, who will discuss the fiscal third 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.

Executive
Lori A. Woods

Thank you, Mark. Good afternoon, and thank you for joining us today for IsoRay's fiscal third quarter 2019 earnings conference call for the quarter ended March 31st, 2019. I will begin our call with some highlights from the third quarter's financial results and then I will give some updates on the recently launched products, as well as other developments and ongoing strategic initiatives. I will then turn the call over to IsoRay's Chief Financial Officer, Jonathan Hunt, who will provide a more detailed review of the fiscal third quarter 2019 financial results.

We are pleased to report another quarter of record revenue, gross margin and gross profit. This fiscal third quarter of 2019 marks our eighth consecutive quarter of double-digit revenue growth, with sales growing 22% over the year-ago quarter. Once again, the key driver of growth this quarter was IsoRay's core prostate brachytherapy revenue, which increased 30% versus the fiscal third quarter of 2018.

We continued to see our sales and marketing strategies drive