Syncor Reports 43% Drop in Its Earnings

Syncor International Corp., a Chatsworth operator of specialty pharmacy centers, reported a 43% drop in earnings in the seven-month period ended Dec. 31.

Syncor is changing its fiscal year to coincide with the calendar year.

In the latest seven-month period, the company earned $2.7 million, down from $4.74 million in profit in the same period a year earlier. Its revenue rose 8%, to $142.2 million from $131.9 million in the corresponding period of 1992.

Syncor’s earnings in the latest period were held down by a $4.5-million charge for development costs associated with its alliance with DuPont Merck announced late last year. Under the agreement, Syncor has become DuPont Merck’s primary distributor of bulk radiopharmaceuticals in the United States.