Syncor 2nd-Quarter Sales and Profits Show Gains

Syncor International, citing improved operating earnings and tax benefits, said its profit rose 11.9% to $1.1 million, or 10 cents a share, in the second quarter ended Nov. 30. Sales were $25.4 million, 12.4% higher than in the same quarter a year earlier.

The Sylmar-based company, which owns a chain of pharmacies that prepare radioactive drugs, said its third-quarter earnings increase probably will be lower than expected because of price competition and a greater than usual slowdown in hospital activity during the holidays.

For the first six months of its fiscal year, Syncor earned $2.2 million, or 20 cents a share, from a loss of $362,000, or 3 cents a share a year earlier. Sales increased 12% to $50.3 million in the six months.