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Syncor sees jump in operating income
Radiopharmaceutical firm Syncor International had reason to celebrate this month when it posted a dramatic increase in operating income for third quarter 1999 (end-September). The Woodland Hills, CA, firm’s operating income climbed 48% during the
Radiopharmaceutical firm Syncor International had reason to celebrate this month when it posted a dramatic increase in operating income for third quarter 1999 (end-September). The Woodland Hills, CA, firms operating income climbed 48% during the quarter, to $8.3 million from $5.6 million the year before. Net sales increased by 15% to $131.5 million, up from $114 million in 1998. The company reported net income of $3.2 million, compared with $2.7 million for the same period the previous year. Included in Syncors results was a nonoperating write-down of $1.8 million linked to the companys 1997 investment in Perimunne, a biotechnology company.
The company attributed its strong performance to increased market demand for pharmacy services, as well as sales revenue and acquisitions in its medical imaging business. For the quarter, Syncors radiopharmacy gross margin increased by $4.3 million to comprise 27% of the companys sales. Its medical imaging business, which operates under a subsidiary, Comprehensive Medical Imaging, posted sales of $15.7 million for the quarter, compared to $11 million in 1998. Comprehensive Medical Imaging acquired four imaging centers in Southern and Central California during the quarter.
AI Mammography Platform Shows Promising Results for Detecting Subclinical Breast Cancer
October 3rd 2024Mean artificial intelligence (AI) scoring for breasts developing cancer was double that of contralateral breasts at initial biennial screening and was 16 times higher at the third biennial screening, according to a study involving over 116,000 women with no prior history of breast cancer.
FDA Clears Software for Enhancing CCTA Assessment of Atherosclerosis
October 1st 2024Through analysis of coronary computed tomography angiography (CCTA) images, the PlaqueIQ software provides quantification and classification of atherosclerosis, a common cause of myocardial infarction (MI) and ischemic stroke.
