Syncor Reports Doubling of Quarterly Earnings
Syncor International Corp., a Chatsworth operator of pharmacy centers that primarily serve doctors and health-care facilities, reported that its earnings more than doubled in the fiscal fourth quarter ended May 31, while revenues rose 26%. Syncor’s fourth-quarter earnings were $1.84 million and revenues totaled $45.1 million, compared with a year-earlier profit of $765,000 on $35.8 million in revenues.
For the year ended May 31, Syncor’s profit increased 32% to $4.76 million from $3.6 million in fiscal 1990. Revenues were up 21% to $156.7 million from $129.8 million.
The company attributed its earnings and revenue growth to sales of three new products for diagnosing heart disease.