Radiopharmaceutical developer Ion Beam Applications (IBA) reported nearly 20% revenue growth in its first quarter.
IBA's increased revenue was mainly driven by a record backlog of 275 million euros ($390 million U.S.), the company said. The backlog is an improvement on figures reported in 2010 because of the confirmation of two additional proton therapy orders in the first quarter of the year.
On a consolidated basis, the company reported an increase of 8% in sales for its first quarter.
The profit for IBA's equipment sector has stabilized and will support the development costs for the Proteus One proton therapy system in 2011. The operational profitability of the equipment sector should remain slightly above the losses generated by investments in the pharmaceutical business, the company said. On a consolidated basis, the company should be close to breakeven, IBA added.
