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MDS continues losses in fourth quarter

Published on January 21, 2010; Published on February 24, 2010
The Canadian Press ~ The News

Topics :: MDS Inc. , TSX , MDS Nordion , TORONTO , US

TORONTO - Canadian life science company MDS Inc. (TSX:MDS) has issued prelimary results for the fourth quarter, including a US$19-million loss from its continuing operations.
Toronto-based MDS is in the process of selling most of its remaining business units but will keep MDS Nordion, best known for supplying medical isotopes to customers used around the world.
The loss from continuing operations for the fourth quarter amounted to 15 cents per share and compares with a loss of $264 million or $2.19 per share for the same period of 2008.
That's when MDS recorded a $246-million writeoff of the MAPLE medical nuclear reactor program, which was shut down by the federal government due to what it described as design flaws. The company is contesting that decision.
Revenue from continuing operations fell to $51 million, down from $84 million in the corresponding fourth quarter of fiscal 2008.

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