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Nordion Reports Fiscal Third Quarter 2012 Financial Results

Stocks in this article: NDN NDZ

Nordion Inc. (TSX: NDN) (NYSE: NDZ):

  • Revenue of $67.1 million, an increase of 0.5% over Q3 2011
  • Adjusted earnings per share, excluding specified items, increased to $0.25, up from $0.15 in the third quarter fiscal 2011
  • TheraSphere revenue of $13.0 million, an increase of 13% over Q3 2011 and 5% over Q2 2012
  • Cobalt-60 shipments in Q3 exceeded total shipments in the first half of fiscal 2012

Nordion reports in U.S. dollars unless otherwise specified. Please also refer to the Management’s Discussion and Analysis and Consolidated Financial Statements.

Nordion Inc. (TSX: NDN) (NYSE: NDZ), a leading provider of products and services to the global health science market, today reported results for the fiscal third quarter ended July 31, 2012. The Company generated $67.1 million in revenue for the third quarter, an increase of $0.3 million, or 0.5%, over revenue of $66.8 million for the same period in 2011.

Excluding the specified items shown on the attached quarterly non-GAAP reconciliation table, adjusted net income for the third quarter increased to $15.5 million from $9.8 million during the same period in the previous fiscal year. Nordion generated GAAP net income of $12.3 million in its third quarter, compared with a net loss of $4.1 million in the third quarter of fiscal 2011 when Nordion recorded a loss from discontinued operations, net of income taxes, of $8.8 million.

Third-quarter adjusted earnings per share, excluding specified items, increased to $0.25 compared with $0.15 in the third quarter of 2011. GAAP earnings per share were $0.20 in the third quarter of 2012, versus a $0.06 loss per share in the same period last year.

“Nordion delivered improved and solid performance across our businesses,” said Mr. Steve West, Chief Executive Officer, Nordion Inc. “We increased our margins and generated double-digit TheraSphere growth. Management continues to focus on building the business and improving alignment within each of our portfolios.”

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