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UPDATE 1-Atrium results boosted by unit sale gain

Thu Aug 7, 2008 9:24am EDT

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(Adds details. In U.S. dollars)

TORONTO, Aug 7 (Reuters) - Atrium Innovations's (ATB.TO) quarterly profit jumped more than sixfold, helped by a gain on the sale of its Active Ingredients and Specialty Chemicals division, the Canadian pharmaceuticals company said on Thursday.

Atrium said it earned $43.9 million, or $1.33 a share in the second quarter, up from $6.6 million, or 20 cents a share for the same time last year.

The 2008 results included a gain of $30.9 million related to the April sale of the Active Ingredients division to Paris-based AXA Private Equity for $155 million.

Earnings from continuing operations, which strips out items including the gain from the sale, were $10.7 million, or 32 cents a share, up from $4.2 million, or 13 cents a share.

Analysts, on average, were expecting earnings of 30 cents a share after items and revenue of $64.2 million.

Revenue rose 165 percent to $74.5 million. ($1=$1.05 Canadian) (Reporting by Scott Anderson)



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