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Nordion Reports First Quarter Fiscal 2013 Financial Results

Nordion Inc. (TSX: NDN) (NYSE: NDZ:
  • Revenue of $53.7 million in Q1 2013, an increase of 1% over Q1 2012
  • Adjusted earnings per share, excluding specified items, decreased to $0.07 in Q1 2013, down from adjusted earnings per share of $0.11 in the first quarter fiscal 2012
  • TheraSphere revenue of $12.0 million in Q1 2013, an increase of 9% over Q1 2012

Nordion reports in U.S. dollars unless otherwise specified

Nordion Inc. (TSX: NDN) (NYSE: NDZ), a leading provider of products and services to the global health science market, today reported results for the first quarter of fiscal 2013. The Company generated $53.7 million in revenue for the first quarter fiscal 2013, an increase of $0.6 million, or 1%, over revenue of $53.0 million for the same period in fiscal 2012.

Excluding the specified items shown on the attached non-GAAP reconciliation table, adjusted net income for the first quarter decreased to $4.1 million from adjusted net income of $7.1 million during the same period in the previous fiscal year. Nordion had a GAAP net loss of $0.3 million in first quarter fiscal 2013, which improved by $0.6 million from a GAAP net loss of $0.9 million in the first quarter fiscal 2012.

First quarter fiscal 2013 adjusted non-GAAP earnings per share (EPS) decreased to $0.07 compared with $0.11 non-GAAP EPS in the first quarter of 2012. GAAP EPS was nil in the first quarter of 2013 versus a $0.01 loss per share in the same period last year.

“Nordion reported solid Q1 results with our Targeted Therapies, Sterilization Technologies and Medical Isotopes businesses turning in good performances,” said Mr. Steve West, Chief Executive Officer, Nordion Inc. “We remain focused on executing our business strategy and building long-term value for shareholders.”

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