The effects of a lackluster worldwide economy resulted in a mediocre financial report from Ion Beam Applications (IBA) of Louvain-la-Neuve, Belgium, in the first quarter (end-March 31).
Overall sales increased 50% in the first quarter due to 3% internal growth, with 47% of new revenue coming from IBA's acquisition of Cisbio on June 1, 2008.
IBA also posted a small net loss, primarily due to miscellaneous additional costs arising from the Cisbio deal, the lack of equipment segment orders, and an increase in financial expenses.
After four years of annual 26% growth in its proton therapy and particle accelerator business, equipment sales dropped 3% in the first quarter compared to the same quarter a year ago. Dosimetry sales fell approximately 11% compared to the first quarter of 2008, while Cisbio contributed to sales growth of approximately 155% in the pharmaceutical sector.
IBA also signed a contract to build a proton therapy center in Prague, Czech Republic. The center will have four treatment rooms, consisting of three gantries and one fixed-beam room, and will be operated by Proton Therapy Center Czech.
The contract, which includes a long-term service and maintenance agreement, is scheduled for completion in three years, with the first patient treatments in 2012.
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IBA opens Dallas PET facility, December 17, 2008
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