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MDS Reports First Quarter 2008 Results


Total revenues $ 322 $ 264

Reimbursement revenues (26) (23)


Net revenues $ 296 $ 241



Income from continuing operations 17 -

Income taxes (recovery) expense (7) 3

Net interest expense - 2

Depreciation and amortization 27 14


EBITDA 37 19

Restructuring charges, net - 13

Acquisition integration and in-process R&D 3 -

Loss (gain) on sale of assets/investments 2 (2)

Gain on interest rate swap (2) -


Adjusted EBITDA $ 40 $ 30



Adjusted EBITDA margin 14% 12%



Consolidated net revenues, which exclude reimbursement revenues associated with reimbursed expenses in the MDS Pharma Services segment, were up 23% on a reported b

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