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MDS Reports Second Quarter 2009 Financial Results
Date:6/11/2009

he quarter," said Stephen P. DeFalco, President and Chief Executive Officer, MDS Inc. "We continue to maintain a balance of disciplined cost control and strategic investments to make the Company more competitive during this challenging economic period."

    Operating Segment Results

    MDS Pharma Services

                                                                    % Change
    (millions of U.S. dollars)             Q2 2009      Q2 2008     Reported
    -------------------------------------------------------------------------
    Net Revenue
    Early Stage                            $    56      $    68         (18%)
    Late Stage                                  49           60         (18%)
    -------------------------------------------------------------------------
                                               105          128         (18%)
    Reimbursement revenue                       25           24
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    Total revenue                          $   130      $   152
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    Adjusted EBITDA                        $     3      $    (1)         n.m.
                                                3%          (1%)
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    n.m. - not meaningful

For the second quarter, MDS Pharma Services reported adjusted EBITDA of $3 million, compared with a loss of $1 million last year. This $4 million year-over-year increase was largely due to productivity gains and restructuring savings, partially offset by lower volumes. Net revenue decreased 18% over
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SOURCE MDS Inc.
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