Summer Slowdown Cited as Syncor Profits Drop

Syncor International Corp., a Chatsworth operator of nuclear pharmacies, said its earnings for the third quarter that ended Sept. 30 were $492,000, down 60% from $1.24 million a year ago.

Revenues for the quarter were $90.9 million, up 12% from $81 million in the third quarter last year.

For the nine months, earnings were $4.5 million, up 28% from $3.5 million last year. Revenues for the nine months were $277 million, up 11% from $247 million last year.

The company attributed the third quarter drop in earnings to a decrease in medical procedures during the summer months and to continued costs of expanding its business.