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MDS Reports Second Quarter 2008 Results
Date:6/5/2008

Net Revenue up 24%, Adjusted EBITDA up 10%

TORONTO, June 5 /PRNewswire-FirstCall/ - MDS Inc. (TSX: MDS; NYSE: MDZ), a leading provider of products and services to the global life sciences markets, today reported its second quarter 2008 results for the period ended April 30, 2008. For the quarter, MDS reported total revenue of $350 million, net income of $11 million and earnings per share from continuing operations of $0.09. Net revenue was $326 million and adjusted EBITDA was $34 million, up from $263 million and $31 million in the prior year, respectively. Adjusted earnings per share were $0.06, down from $0.11 in the prior year.

Quarterly Highlights

- Delivered net revenue of $326 million, up 24% from $263 million in

the prior year. Excluding the impact of foreign exchange and

acquisitions, net revenue increased 5%.

- Increased adjusted EBITDA to $34 million, up 10% from $31 million in

the prior year.

- Reported adjusted earnings per share of $0.06, down from $0.11 in the

prior year, impacted by $0.04 of intangible asset amortization from

the Molecular Devices acquisition.

- MDS Pharma Services had another quarter of strong new business wins,

up 60% from prior year to $165 million. The business delivered

$128 million in net revenue and a loss of $1 million in adjusted

EBITDA compared to breakeven in the prior year.

- MDS Nordion delivered solid performance in Q2 reporting revenue of

$80 million, up 13% from $71 million in the prior year. Adjusted

EBITDA increased 9% to $24 million versus $22 million last year.

- MDS Analytical Technologies delivered $118 million in revenue

compared to $77 million in the prior year. Adjusted EBITDA increased

13% from $15 million to $17 million and was impacted by softening

demand for high-end instruments.

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SOURCE MDS Inc.
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