TORONTO, Feb. 1 /PRNewswire-FirstCall/ - MDS Inc. (TSX: MDS; NYSE: MDZ), a leading provider of products and services to the global life sciences markets, has filed restated 2007 quarterly reports under US GAAP, as required by applicable Canadian regulations, after filing its 2007 annual report and financial statements in US GAAP for the first time earlier this week.
These restated quarterly reports also correct an error related to the US GAAP valuation of certain stock-based compensation plans identified during the year-end audit. The valuation was included in the 'Canadian to US GAAP' reconciliation to the financial statements in previously filed 2007 MDS quarterly reports. These stock-based compensation plans were correctly valued under Canadian GAAP and in MDS' 2007 annual financial statements in US GAAP.
The restated quarterly reports are available in the "For Investors" section of the MDS website at http://www.mdsinc.com.
To assist investors with understanding the impact of MDS' conversion from Canadian to US GAAP, both an "MDS US GAAP Primer", which provides an overview of the relevant differences between US and Canadian GAAP affecting MDS, and reconciliation tables for MDS and its business units are also available on the MDS website at http://www.mdsinc.com.
About MDS Inc.
MDS Inc. is a global life sciences company that provides market-leading products and services that our customers need for the development of drugs and the diagnosis and treatment of disease. We are a leading global provider of pharmaceutical contract research, medical isotopes for molecular imaging, radiotherapeutics, and analytical instruments. MDS has more than 5,500 highly skilled people in 29 countries. Find out more at http://www.mdsinc.com or by calling 1-888-MDS-7222, 24 hours a day.
|SOURCE MDS Inc.|
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