Syncor’s Profits Increase From $56,000 to $1 Million

Syncor International Corp., a Chatsworth operator of high-tech pharmacy service centers, said its net income in the fiscal second quarter that ended Nov. 30 soared to $1 million, more than 17 times the $56,000 the company earned a year earlier. Revenues rose 14% to $31.3 million from $27.4 million.

Gene McGrevin, Syncor’s president and chief executive officer, attributed the earnings gain to the company’s restructuring and to its success in the radioactive pharmaceutical and home health-care markets.

In the six months that ended Nov. 30, Syncor earned $2.2 million, more than 14 times year-earlier net income of $151,000. Revenues of $61.8 million outpaced the $54.5 million in revenues in the year-earlier period by 13%.