Reduced Loss At IG Laboratories

For 1994, IG Laboratories of the USA announced a loss of $3.6 million, down from $7.6 million a year earlier, excluding charges for restructuring and the write-off of impaired goodwill in 1993. Revenues for the year were $43.6 million, up 5%.

In the fourth quarter, revenues were $10 million, marginally lower than a year earlier. The loss for the quarter was $1.4 million, compared to $3.5 million in the like, year-earlier quarter. The cost reduction and improved efficiency measures that were taken in 1994 will continue through 1995, according to Elliot Hillback, president and chief executive.