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Financial Report: MDS

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By: Tim Wright

Editor-in-Chief, Contract Pharma

MDS
 
1Q Revenues: $250 million (+3%)

1Q Earnings: $13 million (earnings were $47 million 1Q2006)

Comments: Revenue growth in the quarter was driven by late-stage businesses, up 25% to $55 million. Early-stage revenue was $66 million, down 1% in the quarter. Backlog at the end of the quarter was $450 million, up 5%. Results for the quarter reflect the impact of $13 million in restructuring charges. In the quarter, the company announced plans to acquire Molecular Devices corp. for $615 million and recently closed the sale of its MDS Diagnostic Services.

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