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Patheon reports first quarter fiscal 2010 results
Date:3/15/2010

Outsourcing activity beginning to show positive signs of improvement

TORONTO, March 15 /PRNewswire-FirstCall/ - Patheon (TSX: PTI) a global provider of drug development and manufacturing services to the international pharmaceutical industry today announced results for its first quarter ended January 31, 2010. All amounts are in U.S. dollars unless otherwise indicated.

Total revenues for the first quarter were $154.8 million, 5.2% higher than the $147.2 million reported in the same period last year. Excluding currency fluctuations, current year first quarter revenues would have decreased by approximately 1.0%. The operating loss for the period was $6.6 million compared to operating income of $3.9 million in the same period last year. First quarter adjusted EBITDA was $9.3 million, down from $12.8 million in the comparable period last year. The operating loss and adjusted EBITDA for the quarter include $3.0 million of Special Committee expenses related to the JLL Bid (vs. $0.5 million in the same quarter last year) which was resolved in December 2009. The operating loss in the quarter also included $2.4 million of repositioning expense related to th
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SOURCE Patheon Inc.
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