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MDS' Q4 Revenues Rise 22 Percent

NEW YORK (GenomeWeb News) – MDS today reported fourth-quarter revenue of $338 million, a 22 percent increase over revenue of $260 million in the comparable quarter a year ago.
 
MDS Analytical Technologies, which includes the operations of Molecular Devices and Sciex, had revenue growth of 92 percent in the quarter to $119 million. Sciex contributed $65 million to that total, while Molecular Devices brought in revenue of $54 million.
 
MDS acquired Molecular Devices in March.  
 
MDS Pharma Services had 1 percent revenue growth year over year to $123 million, while MDS Nordion had revenue of $76 million, flat with last year.
 
The firm’s R&D costs in the quarter increased 14 percent to $8 million.
 
MDS posted a profit of $15 million, down from $47 million year over year. But last year’s fourth-quarter results included $33 million in income from discontinued operations.
 
For full-year 2007, MDS reported revenue of $1.2 billion compared with $1 billion last year. Its net income was $772 million compared with $127 million last year. This year’s results includes $806 million in income from discontinued operations related to the sale of the firm’s Canadian diagnostics business.
 
As of Oct. 31, MDS had $259 million in cash and cash equivalents.

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In Science this week: pair of mutations in one gene uncovered in brothers with short stature and immunodeficiency, and more.