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MDS Reports Third Quarter 2007 Results
Date:9/6/2007

$ 4 $ (10) n/m n/m Adjusted EBITDA $ 8 $ (4) n/m

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Capital

$ 21 $ 12 expenditures $ 28 $ 26

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MDS Pharma Services revenues grew 4%, based on solid 12% revenue growth in our late-stage businesses. Early-stage revenues were down 2% compared to the same quarter last year, as weakness in both early clinical and bioanalytical revenues more than offset otherwise strong growth in drug safety and discovery/preclinical revenues. We have been invited to propose on an increasing number of generic drug studies and as a result, we have seen some strength in new orders in the early-stage businesses this quarter. In addition, bioanalytical revenues were modestly higher on a quarter-over-quarter basis following three quarters of decline. We believe that these are positive signs of stability returning to our early-stage businesses, and an indicator that some of the prior customer uncertainty created by the FDA issues is being resolved.

Organic revenue growth of 3% reconciles to reported growth as follows:

Revenue

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Reported revenue growth 4%

Impact of currency fluctuations on revenue growth (1%)

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Organic revenue growth 3%

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SOURCE MDS Inc.
Copyright©2007 PR Newswire.
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