$CATX
Perspective Therapeutics Inc

2017 Q2 Form 10-Q Financial Statement

#000114420417026154 Filed on May 10, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2017 Q1 2016 Q2
Revenue $1.370M $1.282M $1.120M
YoY Change 22.32% 7.01% -16.46%
Cost Of Revenue $870.0K $989.0K $1.170M
YoY Change -25.64% -12.63% 2.63%
Gross Profit $498.0K $293.0K -$48.00K
YoY Change -1137.5% 343.94% -123.42%
Gross Profit Margin 36.35% 22.85% -4.29%
Selling, General & Admin $2.050M $1.355M $1.520M
YoY Change 34.87% 11.89% 32.17%
% of Gross Profit 411.65% 462.46%
Research & Development $320.0K $327.0K $140.0K
YoY Change 128.57% 78.69% -12.5%
% of Gross Profit 64.26% 111.6%
Depreciation & Amortization $30.00K $40.00K $140.0K
YoY Change -78.57% -71.43% -6.67%
% of Gross Profit 6.02% 13.65%
Operating Expenses $2.360M $1.682M $1.200M
YoY Change 96.67% 20.66% -7.69%
Operating Profit -$1.862M -$1.389M -$1.248M
YoY Change 49.2% 4.67% 13.97%
Interest Expense $30.00K $30.00K $70.00K
YoY Change -57.14% 0.0%
% of Operating Profit
Other Income/Expense, Net -$20.00K $29.00K -$460.0K
YoY Change -95.65% -78.03%
Pretax Income -$1.860M -$1.360M -$1.180M
YoY Change 57.63% 13.33% 14.56%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$1.854M -$1.360M -$1.185M
YoY Change 56.46% 13.81% 14.53%
Net Earnings / Revenue -135.33% -106.08% -105.8%
Basic Earnings Per Share
Diluted Earnings Per Share -$33.81K -$24.72K -$21.44K
COMMON SHARES
Basic Shares Outstanding 55.02M shares 55.01M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q2 2017 Q1 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.970M $10.41M $12.39M
YoY Change -27.6% -10.34% -15.08%
Cash & Equivalents $5.932M $5.100M $10.14M
Short-Term Investments $3.040M $5.310M $2.250M
Other Short-Term Assets $30.00K $350.0K $27.00K
YoY Change 11.11% 20.69% 1.15%
Inventory $323.0K $310.0K $334.0K
Prepaid Expenses
Receivables $730.0K $850.0K $600.0K
Other Receivables $67.00K $0.00 $108.00
Total Short-Term Assets $10.29M $11.92M $13.63M
YoY Change -24.49% -9.95% -16.52%
LONG-TERM ASSETS
Property, Plant & Equipment $1.054M $1.013M $577.0K
YoY Change 82.67% 143.7% 0.38%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $0.00 $2.970M
YoY Change -100.0% -100.0% -41.88%
Other Assets $230.0K $267.0K $151.0K
YoY Change 52.32% 19.98% -38.38%
Total Long-Term Assets $1.978M $2.018M $4.473M
YoY Change -55.78% -69.22% -33.02%
TOTAL ASSETS
Total Short-Term Assets $10.29M $11.92M $13.63M
Total Long-Term Assets $1.978M $2.018M $4.473M
Total Assets $12.27M $13.94M $18.10M
YoY Change -32.22% -29.58% -21.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $630.0K $710.0K $610.0K
YoY Change 3.28% -2.74% 22.0%
Accrued Expenses $480.0K $430.0K $480.0K
YoY Change 0.0% -10.42% -18.64%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.106M $1.140M $1.094M
YoY Change 1.1% -5.96% 0.17%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $560.0K $550.0K $610.0K
YoY Change -8.2% -48.11% -46.02%
Total Long-Term Liabilities $560.0K $550.0K $610.0K
YoY Change -8.2% -48.11% -46.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.106M $1.140M $1.094M
Total Long-Term Liabilities $560.0K $550.0K $610.0K
Total Liabilities $1.667M $1.694M $1.701M
YoY Change -2.0% -25.41% -23.41%
SHAREHOLDERS EQUITY
Retained Earnings -$72.60M -$70.75M -$66.44M
YoY Change 9.27% 8.42% 7.63%
Common Stock $83.21M $83.00M $82.84M
YoY Change 0.44% 0.26% 0.39%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00
YoY Change -100.0%
Treasury Stock Shares 0.000 shares
Shareholders Equity $10.60M $12.25M $16.40M
YoY Change
Total Liabilities & Shareholders Equity $12.27M $13.94M $18.10M
YoY Change -32.22% -29.58% -21.31%

Cashflow Statement

Concept 2017 Q2 2017 Q1 2016 Q2
OPERATING ACTIVITIES
Net Income -$1.854M -$1.360M -$1.185M
YoY Change 56.46% 13.81% 14.53%
Depreciation, Depletion And Amortization $30.00K $40.00K $140.0K
YoY Change -78.57% -71.43% -6.67%
Cash From Operating Activities -$1.210M -$1.490M -$1.200M
YoY Change 0.83% 96.05% 90.48%
INVESTING ACTIVITIES
Capital Expenditures -$230.0K -$50.00K -$230.0K
YoY Change 0.0% -76.19% 283.33%
Acquisitions
YoY Change
Other Investing Activities $2.280M -$30.00K $5.880M
YoY Change -61.22% -100.5% 23.79%
Cash From Investing Activities $2.040M -$80.00K $5.660M
YoY Change -63.96% -101.39% 20.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 0.000 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -1.210M -1.490M -1.200M
Cash From Investing Activities 2.040M -80.00K 5.660M
Cash From Financing Activities 0.000 0.000 0.000
Net Change In Cash 830.0K -1.570M 4.460M
YoY Change -81.39% -131.4% 7.73%
FREE CASH FLOW
Cash From Operating Activities -$1.210M -$1.490M -$1.200M
Capital Expenditures -$230.0K -$50.00K -$230.0K
Free Cash Flow -$980.0K -$1.440M -$970.0K
YoY Change 1.03% 161.82% 70.18%

Facts In Submission

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CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1494000 shares
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.03
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
1.02
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
1.07
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P6Y6M14D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P5Y25D
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
85000 USD
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
85000 USD
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
85000 USD
CY2016Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
1014000 USD
CY2016Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
580000 USD
us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;size: 8.5in 11.0in"> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;CLEAR: both"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;size: 8.5in 11.0in"> <table style="LINE-HEIGHT: 115%; WIDTH: 100%; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.5in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="48"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <b><font style="FONT-SIZE: 10pt">2.</font></b></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt" align="justify"><b><font style="FONT-SIZE: 10pt">New Accounting Pronouncements</font></b></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><b><font style="FONT-SIZE: 10pt"> &#160;</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers" (ASU 2014-09), which supersedes the revenue recognition requirements in FASB Accounting Standards Codification (ASC) Topic 605, "Revenue Recognition". The guidance requires that an entity recognize revenue in a way that depicts the transfer of promised goods or services to customers in the amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods and services. The guidance will be effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period, and is to be applied retrospectively, with early application not permitted. This update will be effective as of the beginning of fiscal 2019. This update is not expected to have a material impact on the Company&#8217;s consolidated financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">In July 2015, the FASB issued ASU 2015-11: Inventory. The guidance requires an entity&#8217;s management to measure inventory within the scope of this ASU at the lower of cost or net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. The guidance is effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. Early application is permitted.&#160; The Company continues to evaluate the new standard and its impact on the Company's consolidated financial statements. This update will be effective as of the beginning of fiscal 2018.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">In November 2015, the FASB issued ASU 2015-17 to simplify the balance sheet classification of deferred taxes. This update requires all deferred tax assets and liabilities to be reported as non-current in the consolidated balance sheets. This update will be effective as of the beginning of fiscal 2018. This update is not expected to have a material impact on the Company&#8217;s consolidated financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> &#160;&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">In February 2016, the FASB issued ASU 2016-02: Leases (Subtopic 842), which will require lessees to recognize assets and liabilities on the balance sheet for the rights and obligations created by most leases. The update is effective for annual and interim reporting periods beginning after December 15, 2018. The Company continues to evaluate the new standard and its impact on the Company's consolidated financial statements. This update will be effective as of the beginning of fiscal 2019.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">Other accounting standards that have been issued or proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the consolidated financial statements upon adoption. Except to indicate an evaluation of a recent pronouncement is in process, the Company does not discuss recent pronouncements that are not anticipated to have potential impact on or are unrelated to its financial condition, results of operations, cash flows or disclosures of the Company.</font></div> </div> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
isr Gain On Change In Aro Estimate
GainOnChangeInAroEstimate
0 USD
CY2017Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
554000 USD
isr Research And Development Collaboration Services Net Of Reimbursement
ResearchAndDevelopmentCollaborationServicesNetOfReimbursement
0 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
20000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
482500 shares
isr Sharebased Compensation Arrangement By Sharebased Payment Award Options Grants In Period Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsGrantsInPeriodFairValue
7700 USD
isr Sharebased Compensation Arrangement By Sharebased Payment Award Options Grants In Period Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsGrantsInPeriodFairValue
255739 USD
isr Purchase Obligation Expiration Date
PurchaseObligationExpirationDate
2017-03-31
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
70000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
281000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
281000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
281000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
234000 USD
CY2017Q1 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
5100000 USD
CY2016Q2 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
10139000 USD
CY2016Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
27000 USD
isr Class Of Warrant Or Right Expired In Period
ClassOfWarrantOrRightExpiredInPeriod
225087 shares
CY2017Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
5000 shares
isr Gain On Change In Aro Estimate
GainOnChangeInAroEstimate
-48000 USD
CY2015Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
948000 USD
CY2017Q1 isr Research And Development Proprietary Research And Development
ResearchAndDevelopmentProprietaryResearchAndDevelopment
166000 USD
CY2016Q1 isr Research And Development Proprietary Research And Development
ResearchAndDevelopmentProprietaryResearchAndDevelopment
183000 USD
isr Research And Development Proprietary Research And Development
ResearchAndDevelopmentProprietaryResearchAndDevelopment
488000 USD
isr Research And Development Proprietary Research And Development
ResearchAndDevelopmentProprietaryResearchAndDevelopment
385000 USD
CY2017Q1 isr Research And Development Collaboration Services Net Of Reimbursement
ResearchAndDevelopmentCollaborationServicesNetOfReimbursement
161000 USD
CY2016Q1 isr Research And Development Collaboration Services Net Of Reimbursement
ResearchAndDevelopmentCollaborationServicesNetOfReimbursement
0 USD
isr Research And Development Collaboration Services Net Of Reimbursement
ResearchAndDevelopmentCollaborationServicesNetOfReimbursement
161000 USD
us-gaap Inventory Write Down
InventoryWriteDown
0 USD
us-gaap Inventory Write Down
InventoryWriteDown
72000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
1147000 USD
us-gaap Loss Contingency Damages Paid Value
LossContingencyDamagesPaidValue
3537500 USD
dei Document Type
DocumentType
10-Q
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2017-03-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2017
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Registrant Name
EntityRegistrantName
IsoRay, Inc.
dei Entity Central Index Key
EntityCentralIndexKey
0000728387
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--06-30
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Trading Symbol
TradingSymbol
ISR
CY2017Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
55017419 shares
CY2016Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2017Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2016Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2017Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2016Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
192998329 shares
CY2017Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
192998329 shares
CY2016Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
55010619 shares
CY2017Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
55017419 shares
CY2017Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
55017419 shares
CY2016Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
55010619 shares
CY2016Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
30000 USD
CY2017Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
30000 USD
CY2016Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
7001671 shares
CY2017Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
7001671 shares
CY2016Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2017Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
isr Land Acquired With Accounts Payable
LandAcquiredWithAccountsPayable
198000 USD
isr Land Acquired With Accounts Payable
LandAcquiredWithAccountsPayable
0 USD

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