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UPDATE 1-Patheon posts Q4 loss on weak north American operations
December 17, 2010 / 12:44 PM / in 7 years

UPDATE 1-Patheon posts Q4 loss on weak north American operations

* Q4 loss/shr $0.01 vs EPS $0.06 last year

* Q4 rev up 1 pct to $177.7 mln

Dec 17 (Reuters) - Contract drugmaker Patheon Inc PTI.TO posted a quarterly loss, hurt by lower production at its Canadian and Puerto Rican operations and higher costs. Patheon posted a net loss from continuing operations of $1.8 million, or 1 cent per share in the fourth quarter, compared with net income of $4.6 million, or 6 cents per share, a year ago.

Patheon, which provides contract development and manufacturing services to the pharmaceuticals industry, said revenue rose about 1 percent to $177.7 million.

Revenue from North America decreased by $5 million, or 7.2 percent, over last year.

Selling, general and administrative costs were up 14 percent to $28.4 million, the company said.

Toronto-based Patheon’s shares closed at C$2.26 on Thursday on the Toronto Stock Exchange. (Reporting by Arnika Thakur in Bangalore; Editing by Joyjeet Das)

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