Strong U.S. sales of its Definity ultrasound contrast agent and stable revenues from U.S. nuclear products helped Lantheus Holdings, the parent company of Lantheus Medical Imaging, offset international doldrums in the company's third-quarter financial report (end-September 30).
Worldwide revenue for the third quarter slipped 1% to $73.1 million, compared with $74.1 million in the third quarter of 2015. The decline was a result of the divestitures of Lantheus' Canadian and Australian radiopharmacy businesses.
Net income also fell to $4.2 million, compared with $5.4 million in the third quarter of 2015. Net income was affected by a $1.4 million write-off of costs related to paying down debt, a gain of $560,000 on the sale of assets, and an increased share count attributable to an equity offering consummated during the third quarter.
For the nine-month period, worldwide revenue increased 2% to $227.5 million, compared with $222.2 million in the same period of 2015. Net income totaled $21.9 million, compared with a net loss of $18.6 million in the same nine-month period in 2015.
U.S. sales for Definity advanced 13% to $32.1 million, compared with $28.8 million in the same quarter of 2015. For the nine-month period, Definity revenue in the U.S. grew 17% to $97.5 million, compared with $83 million in the same period a year ago.
