Purchase delays affect IBA's 6-month results

By AuntMinnie.com staff writers

August 23, 2018 -- Proton therapy developer Ion Beam Applications (IBA) is blaming "low revenue recognition" for a double-digit dip in revenue in the first half of 2018 (end-June 30).

Total group revenue for the six-month period slipped by 24% to 114.7 million euros ($133 million U.S.), compared with 151.6 million euros ($175.8 million U.S.) in the first half of 2017. Subsequently, the company's six-month net loss increased to 7 million euros ($8.1 million U.S.), compared with a net loss of 4.6 million euros ($5.3 million U.S.) in the same period of 2017.

IBA noted that it sold five Proteus One proton therapy systems in the first six months of this year, but three buyers are still waiting for financing to complete the transactions.

Copyright © 2018 AuntMinnie.com

To read this and get access to all of the exclusive content on AuntMinnie.com create a free account or sign-in now.

Member Sign In:
MemberID or Email Address:  
Do you have a AuntMinnie.com password?
No, I want a free membership.
Yes, I have a password:  
Forgot your password?
Sign in using your social networking account:
Sign in using your social networking