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.If you like this content, please share it with a colleague!
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