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UPDATE 1-Patheon narrows quarterly loss

Fri Mar 6, 2009 7:40am EST

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* Loss per share $0.106 vs $0.162

* Revenue drops 10.4 pct (In U.S. dollars)

TORONTO, March 6 (Reuters) - Contract drug manufacturer Patheon Inc (PTI.TO) reported a smaller quarterly loss on Friday, helped by its restructuring program and other cost-cutting measures.

The loss narrowed to $6 million, or 10.6 cents a share, in the first quarter ended on Jan. 31 from $14.7 million, or 16.2 cents a share, a year earlier.

Revenue fell 10.4 percent to $147.2 million, hurt by the effects of a stronger U.S. dollar against the company's other major sales currencies. ($1=$1.28 Canadian) (Reporting by Scott Anderson; Editing by Lisa Von Ahn)



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