An Idaho Falls-based company has seen substantial growth through the first quarter of 2018.
On Monday, International Isotopes announced its financial results for the first three months of 2018, showing a 53 percent growth of the company from the same period in 2017. PR Newswire reported the company’s total revenue in 2017 to be $7,420,390.
The company’s cost of sales increased approximately 41 percent and gross profit increased approximately 68 percent compared to the same period in 2017. The company also experienced a 24 percent increase in revenue during the first quarter.
The numbers reflect the company’s financial record from January 1 to March 31.
In a news release, International Isotopes CEO Steve Laflin attributes the success to recently obtained government contracts and the consolidation of the company’s nuclear medicine arm RadQual.
“The strong performance by most of our business segments in the first quarter has resulted in the first net profit reported for a quarter period in more than a decade,” he said. “While we are likely to continue to see some fluctuations in segment performance over the coming year, we believe the company is on a clear path towards increased revenue and future profitability.”
INL recognized for small business program
An Idaho National Laboratory executive has received a national honor from the Department of Energy.
Dr. Mark Peters has been named laboratory director of the year by the Department of Energy’s Office of Small and Disadvantaged Business Utilization. He was recognized at the 17th annual DOE Small Business Forum and Expo event, which was held May 22 to 24 in Houston.
Peters earned the honor as an exceptional candidate among the various laboratory directors within the Federally Funded Research and Development Centers for meeting all of INL’s small business goals in fiscal year 2017.
In a news release Rick Provencher, Idaho operations manager for the Department of Energy, praised Peters’ work at INL.
“These accomplishments help ensure the lab and government have access to the best competitive rates while supporting a sufficient small business base to ensure quality delivery of services and products,” he said.
Peters, likewise, was honored to receive the distinction.
“At INL, we believe that small businesses are an indispensable asset to the energy industry, enabling us to fulfill our mission and vision,” he said. “This collaboration between the businesses and the laboratory would not have been possible without the diligent efforts of INL’s Small Business Program, and we are grateful that the program’s accomplishments will be recognized.”
Rib cook-off being held in I.F.
Ron’s Tire and Motorsport, 1255 N. Holmes Ave., is hosting a rib cook-off and yard sale in Idaho Falls on June 9 to help kickstart the summer.
The event will be held from 8 a.m. to 3 p.m. Prizes will be awarded for the top three entrants.
A used inventory yard sale will also be held at the event, featuring off-road vehicles, bicycles, and lawn care equipment.
To learn more, or to sign up for the event, visit ronstireandmotorsports.com. Registration ends Friday.
East Idaho Credit Union hosting charity golf tournament
East Idaho Credit Union is hosting its second annual Kicks for Kids golf tournament in Idaho Falls to benefit its Coins for Christmas program.
The tournament will be held June 11 at the Idaho Falls Country Club.
Founded in 1984, Coins for Christmas provides shoes for kids in eastern Idaho as they prepare for the upcoming school year. In 2017, the program filled over 1,100 shoe requests at a cost of over $20,000.
To learn more about the program, or sign up for the tournament, call 208-523,9068, 1-800-727-9961, or email email@example.com
Newgard I.F. Chamber’s June featured speaker
An Idaho Falls banking executive will be the featured speaker in an upcoming chamber of commerce event.
Jeff Newgard, president and CEO of Bank of Idaho, will be the featured speaker at the Greater Idaho Falls Chamber of Commerce monthly event June 28 at the Waterfront at Snake River Landing, 1220 Event Center Drive.
The event is free to the public. To RSVP email firstname.lastname@example.org.
I.F. chamber offers networking lunch
The Greater Idaho Falls Chamber of Commerce will host its monthly Out of the Box Networking Lunch at noon June 5 at the Pinecrest Event Center.
According to the Chamber’s website, the Out of the Box Networking Lunch is an “opportunity to build your professional network and learn more about businesses in the community” by interacting with local business owners in a casual environment.
Preregistration for the event is required by Friday. Admission is $10 for Chamber members and $12 for nonmembers and walk-up sales.
The city of Ammon recently approved building permits on the following projects.
• Addition, valued at $1,200,000, 1456 N. 25th
• Single-family development, valued at $152,655, 2799 Oak Ridge Drive
• Single-family development, valued at $152,655, 1069 Diamond Circle
• Single-family development, valued at $184,705, 437 Curlew Drive
• Storage unit, valued at $440,000, 4420 E. 17th St.
• Single-family development, valued at $187,846, 4729 Porter Drive
• Office building, valued at $303,552, 1548 Midway Unit
• Single-family development, valued at $228,589, 1007 Red Robin Ave.
• Single-family development, valued at $196,503, 3420 Sparrow Hawk Drive
• Single-family development, valued at $231,334, 6182 Founders Point
• Single-family development, valued at $161,593, 1095 Diamond Drive
• Single-family development, valued at $344,699, 967 Red Robin Ave.
• Remodel, valued at $244,000, 1663 Ammon Road
Submit business news and story suggestions by emailing email@example.com.
The Shoptalk column reports on business trends, acquisitions, contracts, openings and relocations.
People in Business features news of promotions, certifications, awards and management-level hires.
The Post Register accepts headshot photographs of people in business so long as those photos are of publishable quality. Emailed photos should be attached as jpegs and should be large format of at least several hundred kilobytes (k) in size.
Reporter Marc Basham can be reached at 208-542-6763.