- Fourth quarter segment earnings increase 22% to $27.8 million compared with fiscal 2010
- Strong fiscal 2011 annual revenue growth of 23%, with TheraSphere® revenue up 47% year-over-year
- $71.6 million in cash returned to shareholders during fiscal 2011 by way of share buybacks and dividends
- Key strategic achievements in fiscal 2011 include: announcement of TheraSphere® Phase III trials, securing a $75 million revolving credit facility, and the divestiture of Belgian operations
Nordion reports in U.S. dollars unless otherwise specified
OTTAWA, Dec. 13, 2011 /PRNewswire/ - Nordion Inc. (TSX: NDN) (NYSE: NDZ), a leading provider of products and services to the global health sciences market, today reported fourth quarter revenues of $74.0 million, down $7.6 million compared with $81.6 million in the fourth quarter of fiscal 2010. For fiscal 2011, revenues increased 23% to $274.0 million from revenue of $222.0 million in fiscal 2010.
Net income from continuing operations was $6.5 million ($0.10 earnings per share) down 55% compared with $14.4 million ($0.22 earnings per share) in the fourth quarter of fiscal 2010. Net income from continuing operations of $43.5 million ($0.67 earnings per share) in fiscal 2011, increased significantly from a loss of $83.8 million ($0.94 loss per share) in fiscal 2010.
“Nordion delivered solid results in the fourth quarter, capping off a strong performance in fiscal 2011,” said Mr. Steve West, Chief Executive Officer, Nordion Inc. “Our key products, TheraSphere, Cobalt-60, and Molybdenum-99, continued to deliver robust results contributing to our bottom-line performance. We executed on key strategic initiatives strengthening our position to build long-term value.”
“We entered fiscal 2012 with a strong balance sheet and continue to focus on growth and performance by building on the success of TheraSphere, maintaining our market leading position in Sterilization Technologies, and optimizing the value of our Medical Isotopes business,” continued Mr. West.
