Syncor Profit Slips to $1.07 Million for Quarter

Syncor International earned $1.07 million, or 10 cents a share, in the second quarter that ended Nov. 30, down from $1.09 million, or 9 cents a share, a year earlier. Revenue was up 3.7%, from $24.6 million to $25.5 million.

The company attributed the disparity in earnings per share to a stock repurchase program it initiated after the Oct. 19 stock market plunge.

The Chatsworth supplier of specialty pharmaceuticals said its income slipped because of added expenses in selling to the home health-care market.

For the six months, Syncor earned $2.1 million, or 19 cents a share, on revenue of $51.2 million. A year earlier, the company earned $2.2 million, or 20 cents a share, on revenue of $48.6 million.