MDS Reports Third Quarter 2007 Results (ount receivedassociated with the 2004 ca...)

MDS Reports Third Quarter 2007 Results

Date:9/6/2007

ount received associated with the 2004 cancellation of the supply agreement between MDS Nordion and Biogen Idec. This amount was included in deferred revenue and recognized in income over 40 months, with the final recognition of this occurring in February 2007. Excluding the impact of this item, revenues were nearly level year-over-year, as stronger medical isotopes revenues offset weakness in cobalt therapy unit sales.

Organic growth in revenues and adjusted EBITDA reconcile to reported growth as follows:

Adjusted

Revenue EBITDA

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Reported growth (4%) (8%)

Impact of currency fluctuations on growth - (8%)

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Organic growth (4%) -

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Operating income was $19 million compared to $21 million last year in the same period and adjusted EBITDA was $23 million compared to $25 million for the third quarter of 2006. Both were $2 million lower due to the contract cancellation referred to above. There were no adjusting items in the third quarter of either year, and depreciation and amortization was level, year-over-year.

Capital expenditures in the isotopes segment for the quarter were $3 million, compared to none last year. Spending in the quarter related primarily to the previously announced plans to invest $6 million to expand our Belgian production facility to meet the growing demand for Glucotrace(R), a medical imaging agent used extensively in positron emission tomography (PET)
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MDS Reports Third Quarter 2007 Results(ount receivedassociated with the 2004 ca...),Health