MDS Reports Second Quarter 2009 Financi...(re Corporate and Other ...),Health

Date:6/11/2009

re> Corporate and Other % Change (millions of U.S. dollars) Q2 2009 Q2 2008 Reported ------------------------------------------------------------------------- Selling, general and administration $ (7) $ (7) - ------------------------------------------------------------------------- ------------------------------------------------------------------------- Adjusted EBITDA $ (8) $ (6) (33%) ------------------------------------------------------------------------- -------------------------------------------------------------------------

Corporate selling, general and administration expenses were $7 million in the second quarter of 2009, level compared with the second quarter of 2008. These expenses included $3 million in corporate development costs primarily associated with the sale of MDS Pharma Services' Phase II-IV operations, which were offset by a $2 million recovery in stock-based compensation expense.

Relative to cash performance, as of the end of the second quarter, MDS reported $243 million in cash and cash equivalents, which is approximately equivalent to the Company's debt position of $276 million minus a government loan of $39 million, which is entirely offset by a corresponding financial instrument.

New Disclosure and Delivery Method for Reporting Financial Results

In the fourth quarter of 2008, MDS adopted a new approach to releasing quarterly financial results. The Company no longer uses the newswires to issue its quarterly Management Discussion and Analysis (MD&A), and financial statements and notes. For the Company's first, second and third quarters, the respective MD&A, and financial statements and notes, which are assessable through this link:

SOURCE MDS Inc. Copyright©2009 PR Newswire. All rights reserved

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