IBA achieves Q1 revenue growth

Revenue gains from its proton therapy products powered double-digit growth for Ion Beam Applications (IBA) in the company's first quarter of 2016 (end-March 31).

Revenue increased 10% in the first quarter to 64.6 million euros ($74.3 million U.S.), compared with 58.6 million euros ($73.8 million U.S.) in the first quarter of 2015.

IBA also reported a record-high backlog in its Proton Therapy and Other Accelerators business segment of 355.4 million euros ($408.8 million U.S.), compared with a backlog of 278.8 million euros ($320.6 million U.S.) in the same quarter of 2015.

Given the start to this year, IBA projected that revenue for 2016 could grow by as much as 20% by year's end.

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