Syncor Reports Record Earnings in 4th Quarter

Syncor International Corp., a Chatsworth provider of specialty pharmaceuticals, reported record sales and earnings for its fiscal fourth quarter that ended May 31, posting net income of $2.42 million, up 32% from $1.84 million a year earlier. Sales jumped 31%, to $59 million from $45 million.

For the 12 months that ended May 31, Syncor’s earnings increased 45%, to $6.9 million from $4.76 million a year earlier. Revenue increased 34%, to $210 million from $157 million a year ago.

Gene R. McGrevin, president and chief executive officer, attributed the sales and earnings growth to the success of two new cardiology-related products and improvements in marketing and sales.