MDS posts wider 3Q loss on revenue dip, charges

MDS' 3rd-quarter loss widens on dip in revenue, restructuring charges

• On 2:41 pm EDT, Thursday September 10, 2009

NEW YORK (AP) -- MDS Inc., a Canadian life sciences company, on Thursday said its fiscal 2009 third-quarter loss widened on a mix of lower revenue and restructuring costs.

The company provides a mix of pharmaceutical research services, medical isotopes for molecular imaging and analytical systems.

The Toronto-based company lost $62 million, or 51 cents per share, compared with a loss of $10 million, or 8 cents per share, during the same period a year prior. Losses from continuing operations -- which excludes results from businesses that have been, or are in the process of being sold -- totaled $48 million, or 40 cents per share, versus a loss of $5 million, or 4 cents per share, in the prior-year period.

Revenue fell 21 percent to $199 million from $252 million.

The fiscal third-quarter ended July 31.

Excluding charges for restructuring and other costs, the company said it lost 15 cents per share. Analysts polled by Thomson Reuters expected a loss of 2 cents per share on revenue of $197.9 million.

Shares of MDS fell 9 cents to $8.07 in afternoon trading.