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

purchase-related items discussed above. Operating income for Sciex was $14 million compared to the $10 million reported last year. The increase in Sciex operating income relates principally to the higher sales reported by this division.

Adjusted EBITDA for the quarter was $36 million compared to $15 million last year. Adjustments of $11 million for the quarter reflect costs of the MD acquisition, including $1 million of costs that we have incurred as we begin to integrate the businesses and $10 million of non-cash fair market value adjustments applied to inventory and order backlog as described above. There were no adjustments in the prior year.

Increased SG&A and R&D expenses in MDS Analytical Technologies for the third quarter of 2007 reflect the additional costs associated with the MD business. Depreciation and amortization expense was also up, reflecting $8 million for amortization of intangible assets acquired as part of the MD acquisition, along with depreciation on MD property, plant, and equipment.

Capital expenditures (excluding capitalized development costs) were $3 million this year and $2 million in the third quarter last year.

The MD division of MDS Analytical Technologies announced the release of the AquaMax 2000 and AquaMax 4000 series of microplate washers to add speed and flexibility to microplate washing for bioanalytical assays. In addition, Sciex and its partner Applied Biosystems announced the release of a new food testing method for LC/MS to help address recent concerns about melamine and cyanuric acid in food. This announcement marks the launch of the first commercially available method to test for these contaminants simultaneously.

Corporate and Other

Financial Highlights

Third Quarter Year-to-Date

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SOURCE MDS Inc.
Copyright©2007 PR Newswire.
All rights reserved

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