Toronto healthcare company MDS has posted a 2009 third quarter loss of $62 million compared with a $10 million loss for the same period a year ago.
"The economic downturn, further softening in demand for contract research organization services and the unexpected and prolonged shutdown of AECL's [Atomic Energy of Canada Limited] National Research Universal [NRU] reactor created significant challenges for our business," explained MDS President and CEO Stephen P. DeFalco in a statement accompanying the release of the company’s third quarter financial results.
Revenue fell to $199 million in the third quarter compared with revenue of $252 million reported a year ago, MDS reported. Net revenue was $192 million in the third quarter, down 21 percent from a year earlier.
MDS agreed to sell off its analytical technologies business to Danaher earlier this month.