IBA grows revenue but posts loss

Growth in its radiation therapy business powered radiopharmaceutical provider Ion Beam Applications (IBA) to a double-digit gain in revenue in the first six months of 2012 (end-June 30).

For the six-month period, revenue increased 13% to 121 million euros ($152.5 million U.S.), compared with 107.1 million euros ($134.8 million U.S.) in the first half of 2011.

The company also posted a net loss of 1.4 million euros ($1.8 million U.S.) in the six-month period, compared with a profit of 3.3 million euros ($4.1 million U.S.) in the same period of 2011.

The net loss resulted from 22.5 million euros ($28.3 million U.S.) of nonrecurring expenses related to its Essen project and a 19.4 million euro ($24.4 million U.S.) profit from discontinued operations, IBA said.

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