Syncor International Posts Hike in 4th-Quarter Profits

Syncor International reported a 46% rise in profit, to $1.5 million, or 13 cents a share, in the fourth quarter ended May 31, as sales climbed 6%, to $25.7 million.

The Chatsworth company, which operates a chain of nuclear pharmacies, saw its earnings increase by $788,000, or 7 cents a share, because of tax-loss carryforwards, which enable a company to use previous losses to offset taxable income.

For the fiscal year, Syncor earned $2.4 million, or 21 cents a share, up 42% from $1.7 million a year earlier. The results included a gain from tax-loss carryforwards of $979,000, or 8 cents a share.

Syncor’s sales in its fiscal year rose 9%, to $98.3 million.