Syncor Earns $1 Million After 2 Quarters of Losses

Syncor International Corp., a Chatsworth distributor of radiopharmaceutical products, said it posted a profitable first quarter, its first profitable period in nine months.

Syncor’s first quarter earnings of $1 million were 51% lower than its 1993 first quarter earnings of $2.1 million. But the profits came on the heels of two consecutive losing quarters. During the third and fourth quarters of 1994, the company had losses of $1.1 million and $500,000 respectively.

Syncor reported sales of $83 million for the first quarter, up 11% from $74.8 million a year earlier. Gene R. McGrevin, chief executive officer, said that while the company was encouraged by its return to profitability, the pending FDA approval of a competing cardiac imaging agent could hurt Syncor’s performance later this year.