MDS Reports Preliminary Fourth Quarter 20... ( TORONTO Dec. 17 / MDS Inc. (TSX: MDS;...)

MDS Reports Preliminary Fourth Quarter 2008 Results

Date:12/17/2008

TORONTO, Dec. 17 /PRNewswire-FirstCall/ - MDS Inc. (TSX: MDS; NYSE: MDZ), a leading provider of products and services to the global life sciences markets, today reported its preliminary and unaudited fourth quarter and year-end results for the period ended October 31, 2008. All amounts in this report are preliminary and unaudited, and do not include the $270 million to $370 million estimated write-down of MDS Pharma Services goodwill that was previously announced on December 10, 2008. The Company expects to file its audited year-end 2008 results, including the MDS Pharma Services goodwill write-down, with its annual reports in January 2009. For the fourth quarter, MDS reported total revenue of $322 million. Including a $246 million after-tax charge to write off the MAPLE asset, the Company reported a net loss of $255 million and loss per share from continuing operations of $2.11. Net revenue was $295 million and adjusted EBITDA was $37 million, compared with $307 million and $35 million in the prior year, respectively. Adjusted earnings per share were $0.02, down from $0.10 in the prior year.

Quarterly Highlights

- MDS reported net revenue of $295 million, down 4% from $307
million in the prior year. Excluding the impact of foreign
exchange plus acquisitions and divestitures, net revenue increased
4%.
- MDS delivered adjusted EBITDA of $37 million, up 6% from $35
million in the prior year.
- MDS Pharma Services reported $112 million in net revenue, down
from $123 million last year, and $8 million in adjusted EBITDA, up
from $1 million in the prior year.
- MDS Nordion delivered solid results with revenue of $84 million,
up from $76 million last year. Adjusted EBITDA was $21 million
versus $20 million last y
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SOURCE MDS Inc.
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MDS Reports Preliminary Fourth Quarter 20...( TORONTO Dec. 17 / MDS Inc. (TSX: MDS;...),Health