Isotope technology firm Eckert & Ziegler reported disappointing sales for the last quarter of 2014.
The firm was unable to match the sales levels of previous years due to the economic and political crisis in Eastern Europe. Compared with the period from 2011 to 2013, annual sales in the Eastern European countries were down by half to almost 4 million euros ($4.7 million U.S.) in 2014, which means total sales for the segment were on par with the previous year's figure of 28 million euros ($33 million U.S.).
Due to low utilization of production capacity and a business environment in the U.S. that proved more challenging than expected, the firm's Radiation Therapy segment posted a loss on earnings before interest and taxes (EBIT) of almost 3 million euros ($3.6 million U.S.), as opposed to an expected breakeven as based on preliminary results.
The company's other business segments have been unable to fully compensate for this operating loss; therefore, Eckert & Ziegler forecasted a 30% decline in earnings per share to around 1.25 euros ($1.50 U.S.), instead of the previously estimated increase to 2 euros ($2.4 U.S.), though this excludes potential positive special effects, the firm said. The firm's definitive results will be published on March 26.
