Q3 produces revenue gain for IBA, but also loss
Article Thumbnail ImageNovember 20, 2012 -- Radiopharmaceutical provider Ion Beam Applications (IBA) achieved a 14% increase in revenue in the third quarter of 2012 compared to the third quarter in 2011, thanks to progress in its equipment segment and a growth rate of 10.6% in its dosimetry business.

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For the third quarter (end-September 30), IBA reported revenue of 180.1 million euros ($230.6 million U.S.), of which 155.5 million euros ($199.1 million U.S.) was generated by the equipment division. The backlog of booked orders represents a total value of 185 million euros ($236.95 million U.S.).

However, due to the negative effect of activities in its IBA Molecular division, the company recorded a loss for the quarter of approximately 5 million euros ($6.4 million U.S.).

The profitability of IBA Molecular has been affected by price pressures on FDG-PET radiopharmaceuticals, particularly in Europe, as well as lower PET volume in the U.S. and lower SPECT volume in Europe. These downward trends were partially offset by increased volume in Asia and the rest of the world, IBA said, but the company has also been focusing on cost-saving initiatives to compensate for lower revenues.