Syncor shows rebound with 1995 results
Nuclear medicine pharmacy firm Syncor reported solid financialresults for its 1995 fiscal year (end-December), offering furtherproof that the nuclear medicine industry's slump eased last year.The Chatsworth, CA, firm said that both revenues and
Nuclear medicine pharmacy firm Syncor reported solid financialresults for its 1995 fiscal year (end-December), offering furtherproof that the nuclear medicine industry's slump eased last year.The Chatsworth, CA, firm said that both revenues and earningswere up and the company had achieved its financial objectives.
For 1995, Syncor had revenues of $332.5 million, up 4% comparedwith $320 million in 1994. Net income last year stood at $4.7million, up sharply from $1.2 million the year before.
For the fourth quarter, Syncor reported net income of $1.1million on revenues of $85.1 million. In 1994, the company hada loss of $537,000 on sales of $81.7 million.
Syncor said that the improved numbers were due to cost controlprograms, a better product mix, and successful efforts to manageradiopharmaceutical pricing. Cardiology sales continue to driverevenue growth, with sales from cardiology products accountingfor 63% of the company's business in 1995, up from 56% in 1994.
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