MDS Reports Third Quarter 2007 Results(006 Reported Organic -----...),Health
006 Reported Organic
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Revenue 76 79 (4%) (4%)
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Adjusted EBITDA:
$ 23 25 (8%) -
% 30 32 - -
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MDS Nordion revenues for the third quarter were $76 million, down 4% on a reported and organic basis compared to a strong quarter last year. Adjusted EBITDA was $23 million, down 8% as reported but flat organically, as productivity initiatives partially offset lower revenue and the impact of foreign currency. MDS Nordion revenue and adjusted EBITDA were up sequentially from the second quarter 2007 by 9% and 10% respectively.
During the quarter, MDS Nordion announced a new collaboration with the University of Ottawa Heart Institute, Canada's largest cardiovascular health centre, to establish a Molecular Imaging Centre of Excellence to advance cardiology research. MDS Nordion will invest an estimated $2 million in this new Centre that will further cardiology research by using advanced imaging technology to conduct early disease detection and treatment assessment. MDS Nordion also experienced growth in revenues for its innovative liver treatment, TheraSphere(R), this past quarter. Demand for this product in Europe continues to accelerate as it has now been added to treatment formularies in certain European countries that enable doctors to be reimbursed.
MDS Analytical Technologies
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| SOURCE MDS Inc. Copyright©2007 PR Newswire. All rights reserved |
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