May 10 Belgian medical equipment maker Ion Beam
Applications (IBA) slightly lowered margin
expectations on Wednesday, citing recent delays in project
execution in its core proton therapy business.
IBA, which makes proton therapy machines to treat cancer,
cut its 2017 operating margin guidance to 10-12 percent from
11-12 percent previously.
"The implementation of several projects has been deferred
due to construction delays faced by some of our clients, leading
us to slightly adjust our full year guidance for 2017," Chief
Executive Olivier Legrain said in a statement, adding that the
15-20 percent revenue growth target for the year remains
The company now expects margins to settle around 13 percent
in 2018, down from 13-15 percent, but its 2020 guidance of a 15
percent operating margin remains unchanged.
IBA also reported a 13.4 percent rise in first-quarter
revenue to 73.3 million euros ($79.8 million), boosted by
recovering revenue at its dosimetry business, which makes
testing and calibration equipment for a range of applications.
Revenue at the core proton therapy business was up 12
percent year on year.
($1 = 0.9189 euros)
(Reporting by Wout Vergauwen; Editing by David Goodman)