MDS Reports Second Quarter 2009 Financi...(ar. Excluding divestitures and foreign e...),Health

Date:6/11/2009

ar. Excluding divestitures and foreign exchange, adjusted EBITDA increased 12% compared with last year. Revenue for the second quarter was $65 million, compared with $80 million last year. Excluding the $10 million negative impact of foreign exchange and $10 million related to the divestiture of certain product lines, revenue increased by $4 million, or 6% year-over-year. Excluding the divestitures and foreign exchange, year-over-year improvement in revenue and adjusted EBITDA was primarily driven by strength in medical isotopes.

During the quarter, MDS Nordion launched an improved TheraSphere(R) administration system for physicians. TheraSphere(R) is a targeted internal radiation therapy for patients with inoperable, primary liver cancer. The new administration system allows for safer, faster, and more efficient administration of TheraSphere(R), providing better treatment delivery for patients.

Subsequent to the quarter, MDS Nordion commenced the manufacture of Cardiogen-82(R) (Rubidium-82 generators) for Bracco Diagnostics Inc. (Part of Bracco Group). CardioGen-82 is the only generator-based, cardiac Positron Emission Tomography (PET) perfusion imaging agent approved by the United States Food and Drug Administration (FDA). PET is a highly sensitive medical-imaging technique that produces a three-dimensional image of the functioning heart, allowing the cardiologist to identify regions of the heart muscle receiving poor blood flow.

After the end of the quarter, in May 2009, Atomic Energy of Canada Limited (AECL) announced that its National Research Universal (NRU) reactor would be out of service for at least three months. Based on historical EBITDA trends related to NRU-supplied isotopes, MDS expects the financial impact of this shutdown to reduce MDS Nordion's adjusted EBITDA by approximately $4 million for every month the NRU is out of service. MDS is assessing plans to reduce costs over the extended shutdown period. MDS Nordion continues t
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SOURCE MDS Inc. Copyright©2009 PR Newswire. All rights reserved

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