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Nordion Reports Fourth Quarter And Fiscal 2012 Financial Results; Provides Fiscal 2013 Outlook

Stocks in this article: NDN NDZ

Targeted Therapies

TheraSphere® revenue for fourth quarter fiscal 2012 of $12.0 million increased by $1.1 million or 10% compared with fourth quarter fiscal 2011. Targeted Therapies revenue for fiscal 2012 of $48.5 million increased by $5.9 million or 14% compared with fiscal 2011.

The annual increase in TheraSphere revenue was primarily due to adoption by new clinics. Management believes the continued growth of TheraSphere is attributable to positive perceptions regarding TheraSphere, including its simplified delivery system, it is well-tolerated by patients, and offering of custom doses, and the Company’s investment in global sales and marketing.

Sterilization Technologies

Sterilization Technologies revenue for fourth quarter fiscal 2012 of $32.3 million decreased by $0.2 million or 0.5% compared with fourth quarter fiscal 2011. Revenue from Cobalt of $31.0 million in fourth quarter fiscal 2012 increased by $2.9 million or 10% due to increased shipments during this period. Additionally, the volume of Cobalt-60 shipped in the second half of fiscal 2012 was more than twice the volume shipped in the first half of fiscal 2012.

Sterilization-Other revenue of $1.3 million decreased by $3.1 million or 70% in fourth quarter fiscal 2012, compared with fourth quarter fiscal 2011. No production irradiators were shipped during the quarter; however there was one shipped in fourth quarter fiscal 2011.

Overall Sterilization Technologies revenue for fiscal 2012 of $95.4 million, decreased by $13.2 million or 12% compared with fiscal 2011. Cobalt revenue of $92.4 million in fiscal 2012 decreased by $4.6 million or 5% compared with fiscal 2011. Sterilization-Other revenue of $3.0 million was down $8.6 million or 74% over the same period of the prior year.

Medical Isotopes

Medical Isotopes revenue for fourth quarter fiscal 2012 of $30.3 million decreased by $0.3 million or 1% compared with fourth quarter fiscal 2011. Reactor isotopes revenue of $24.8 million in fourth quarter fiscal 2012, increased by $2.9 million or 13% primarily due to additional revenue the Company recognized for a short fall in Mo-99 orders below minimum contract commitments from a customer during the quarter. Cyclotron isotopes revenue of $3.6 million increased by $0.3 million or 10%, and Contract Manufacturing revenue of $2.0 million decreased by $3.5 million or 64%, compared with the same period of the prior year.

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