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UPDATE 1-Isotope supplier Nordion posts smaller-than-expected profit
January 9, 2014 / 12:55 PM / 4 years ago

UPDATE 1-Isotope supplier Nordion posts smaller-than-expected profit

By Rod Nickel

Jan 9 (Reuters) - Nordion Inc , a Canadian supplier of medical isotopes, reported a quarterly profit on Thursday versus a year-ago loss, but results still missed Wall Street estimates.

The Ottawa-based company, which had launched a strategic review a year ago, said it expected 2014 revenues to rise 10 percent to 15 percent in its sterilization technologies segment and jump 30 percent to 40 percent from medical isotopes.

Net earnings were $56.3 million, or 91 cents a share, for the fourth quarter ended Oct. 31, compared with the year-earlier loss of $43.5 million, or 70 cents a share, which was partly due to a litigation charge.

Excluding certain items, earnings fell 44 percent to $9.4 million, or 15 cents per share, from $16.8 million, or 27 cents a share.

On that basis, analysts expected earnings of 18 cents per share, according to Thomson Reuters I/B/E/S.

Revenue fell 31 percent to $51.3 million, slightly below the expected $51.69 million.

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