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MDS Reports Final Fourth-Quarter 2008 Results
Date:1/8/2009

TORONTO, Jan. 8 /PRNewswire-FirstCall/ - MDS Inc. (TSX: MDS; NYSE: MDZ), a leading provider of products and services to the global life sciences markets, today reported its final fourth-quarter results following the completion of its year-end audit for the period ended October 31, 2008.

As previously announced, for the fourth quarter 2008, MDS reported total revenue of $322 million. The final value of the MDS Pharma Services goodwill write-down, previously estimated to be in the range of $270 million to $370 million, is $320 million. Including the goodwill write-down for MDS Pharma Services and the previously disclosed $246 million after-tax charge to write off the MAPLE asset, the Company reported a net loss of $575 million and a loss per share from continuing operations of $4.77. Net revenue was $295 million and adjusted EBITDA, previously estimated to be $37 million, was $36 million, compared with $307 million and $35 million in the prior year, respectively. Adjusted earnings per share was $0.02, down from $0.10 in the prior year.

"In 2008, MDS confronted challenges in a difficult environment. While we made progress in several areas, we recognize the necessity of improved performance," said Stephen P. DeFalco, President and Chief Executive Officer, MDS Inc. "We are operating with a sense of urgency, and have an engaged Board and Management team focused on driving growth, improving performance and shaping the Company's business portfolio. We continue to review our strategy against potential options, with a firm commitment to delivering shareholder value."

New Disclosure and Delivery Method for Reporting Financial Results

MDS has adopted a new approach to releasing quarterly financial results. The Company no longer uses the newswires to issue quarterly Management Discussion and Analysis (MD&A), and financial sta
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SOURCE MDS Inc.
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