Syncor’s Earnings Fall 76% for Quarter

Syncor International Corp., the Chatsworth operator of nuclear-pharmacy services, reported second quarter earnings of $744,000 for the period ended June 30, down 76% from $3.1 million a year before. Revenue for the quarter was $81.9 million, up 37% from $59.7 million the previous year.

For the six months, Syncor reported earnings of $2.8 million, down 51% from $5.7 million for the same period a year earlier. Revenues for the sixth months were $156.7 million up 31% from $119.4 million a year before.

The company attributed the six-month results to increased pressure to lower prices for medical services despite a continued growth in the market for nuclear medical procedures.