Net Revenues up 23%, Adjusted EBITDA up 33%
TORONTO, March 6 /PRNewswire-FirstCall/ - MDS Inc. (TSX: MDS; NYSE:
MDZ), a leading provider of products and services to the global life
sciences markets, today reported its first quarter 2008 results. For the
quarter, MDS reported net revenues of $296 million, net income of $17
million and earnings per share from continuing operations of $0.14.
Adjusted EBITDA rose to $40 million, up from $30 million in the prior year.
Adjusted earnings per share were $0.05, down from $0.07 in the prior year.
This solid start to 2008 is primarily driven by improvements at MDS Pharma
Services and MDS Analytical Technologies, partially offset by challenges at
- Delivered $296 million in net revenues, up 23% from $241 million in
the prior year.
- Increased adjusted EBITDA to $40 million, up 33% from $30 million in
the prior year.
- Reported adjusted earnings per share of $0.05, down from $0.07 in the
prior year impacted by $0.08 of intangible amortization from the
Molecular Devices acquisition.
- MDS Pharma Services delivered $146 million in total revenues and
$6 million in adjusted EBITDA, up from $1 million in the prior year
with new business wins at $177 million up 32% over the prior quarter.
- MDS Nordion delivered $60 million in revenues, down 10% in the
quarter impacted by a medical isotope supply disruption and light
- MDS Analytical Technologies delivered $116 million in revenues and
$27 million in adjusted EBITDA with the highest quarterly revenue in
Molecular Devices history.
- MDS repurchased and cancelled 252,000 Common shares for $5 million
under its Normal Course Issuer Bid.
"We are off to a solid start in the first quarter with double-digit
growth in both net revenue
|SOURCE MDS Inc.|
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