fiscal 2013 was $2.9 million, a decrease of $29.9 million, compared with operating income of $27.0 million for the same period in fiscal 2012. The decrease in operating income was due to a goodwill impairment charge of $22.7 million, reduced high margin Medical Products revenue of $3.3 million, reduced Radiation Measurement revenue of $1.3 million, increased IT expenses due to the Company's IT platform enhancement of $5.0 million and additional customer service support of $1.0 million, compared to acquisition costs of $2.1 million, lower service cost of $1.2 million, material costs of $1.2 million and IT platform enhancement expense of $1.0 million in the prior year period.
The effective tax rate was a benefit of (4.6)% and an expense of 29.2% for the first nine months of fiscal 2013 and 2012, respectively. The decline in the effective tax rate was primarily due to the U.S. research and development credits having a larger impact on our effective tax rate due to lower pretax income.
Without impairment of goodwill the effective tax rate would have been 25.7% for the first nine months of fiscal 2013, a decline over the prior year rate due primarily to the U.S. research and development credits.
As a result, net loss for the first nine months of fiscal 2013 of $3.7 million, compared to $18.6 million in the same period in fiscal 2012, primarily due to the goodwill impairment charge of $22.7 million.
Adjusted EBITDA for the first nine months of fiscal 2013 was $35.4 million compared with $42.3 million for the first nine months of fiscal 2012. The decrease was due primarily to lower overall earnings particularly due to reduced high margin Medical Products revenue. A reconciliation of net income to EBITDA and Adjusted EBITDA is included in the attached financial exhibits.
Radiation Measurement SegmentRadiation Measurement revenues for the first nine months of fiscal 2013 decreased 1.6 percent, or $1.3 million, from tPage: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 Related medicine technology :1
. Landauer, Inc. Declares Regular Cash Dividend2
. Landauer, Inc. Reports Fiscal 2013 Second Quarter Results3
. Landauer, Inc. Sets Date And Time For Announcement Of Fiscal Second Quarter 2013 Results4
. Landauer, Inc. Reports Fiscal 2013 First Quarter Results5
. Landauer, Inc. Reports Fiscal 2012 Fourth Quarter And Year End Results6
. Landauer, Inc. Sets Date And Time For Announcement Of Fiscal Fourth Quarter And Full Year 2012 Results7
. Landauer, Inc. Appoints Ronald Zilkowski To Vice President, Corporate Controller And Chief Accounting Officer8
. Landauer, Inc. Appoints Peter Cempellin To President Of Landauer Radiation Measurement9
. Landauer, Inc. Reports Fiscal 2012 Second Quarter Results10
. PDI Reports 2013 Second Quarter Financial Results11
. U.S. Orthopedic Biomaterials Market & Global Biomaterials Industry Reviewed by Products and Applications in New Research Reports