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Iba keeps guidance in spite of slow start to 2014
May 14, 2014 / 6:24 AM / 4 years ago

Iba keeps guidance in spite of slow start to 2014

BRUSSELS, May 14 (Reuters) - Belgian cancer diagnosis and therapy company Ion Beam Applications maintained its revenue outlook for 2014 even though sales in the first three months came in below target.

The group, which makes proton therapy devices which offer a more targeted treatment of tumours compared to traditional radiotherapy, reported a 4 percent rise in sales in the first quarter to 46.3 million euros.

This compared with its annual target of a 5 to 10 percent rise.

IBA said the shortfall was caused by slower conversions of orders for its proton therapy products at the start of the year, while its dosimetry business saw a 19 percent increase in revenues.

The Belgian group sold just 33.1 million euros in its proton therapy segment in the first quarter, down slightly from 33.7 million euros last year.

However, the company said its backlog of booked orders was valued at 187 million euros for the first quarter.

IBA maintained its revenue and profitability guidance from March, reiterating that it expected to reach a 10 percent operating margin for 2014. (Reporting By Anna Nicolaou, editing by Robert-Jan Bartunek)

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