Syncor Expects Profit to Be Lower Than Projected
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Syncor International Corp., a Chatsworth provider of specialty pharmaceuticals, said it expects to report a profit of about $700,000 to $1 million for its second quarter ending June 30, well below analysts’ projections.
The company’s net sales are expected to range from $81 million to $82 million.
A year earlier, Syncor earned $3.1 million from continuing operations on net sales of $59.7 million.
Syncor said its financial results have been hurt by lower prices it adopted because of competition, and its plan to increase its market penetration and market share with certain products.
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