MDS 4Q Profit Declines

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MDS 4Q Profit Declines
source: admin 2007-3-9 23:26:48

NEW YORK (AP) -- Life sciences company MDS Inc. said Thursday its fiscal first-quarter profit plunged without a bigger benefit from discontinued operations from a year ago.

The Toronto-based company earned $14 million, or 10 cents per share, compared with $47 million, or 33 cents per share, during the same period last year. Revenue rose 3 percent to $250 million from $242 million.

MDS' fiscal year ends Oct. 31.

During the quarter, the company took in $16 million from discontinued operations, compared with $33 million last year.

Shares of MDS fell 3 cents to $18.56 on the New York Stock Exchange in afternoon trading.