Syncor’s Earnings Show Steep 1st-Quarter Drop

Syncor International said its earnings in the first quarter that ended Aug. 31 fell 91% to $95,000, or 1 cent a share, from $1 million, or 9 cents a share, a year earlier.

The drop came even though Syncor’s sales rose 6% in the quarter to $27.2 million. The Chatsworth company, which operates a chain of nuclear pharmacies, said earnings were off largely because of increased competition that resulted in price-cutting in some areas and because of higher recruiting and training costs.