Radiopharmaceutical developer Ion Beam Applications (IBA) reported that the first half of 2011 produced an increase in gross revenue and a significant decrease in recurring operating income, compared with the same period in 2010.
IBA's 3.2 million euro ($4.7 million U.S.) net profit increased by 28.2% during the first half of 2010.
For the period, gross revenues from sales and services were 199 million euros ($287 million U.S.), an increase of 9.9% from a year ago, the company announced. It attributed sales and services for equipment to growth in proton therapy, whose revenue increased by 58.9%.
The pharmaceutical segment of the business was flat, attributed in part to the effect of changes in currency exchange rates, and weak sales of its Drug Discovery products during 2011. This segment generated an operational loss of 2.1 million euros ($3.3 million U.S.), compared with a 1.1 million euro profit recorded in 2010 ($1.5 million U.S.).
