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Financial Report: Patheon 3Q11

Excluding currency fluctuations, revenues were flat in the quarter.

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Patheon 3Q11 

3Q Revenues: $172.7 million (+6%)

3Q Loss: $0.7 million (loss of $3.0 million in 3Q10)

YTD Revenues: $518.4 million (+5%)

YTD Loss: $11.4 million (loss of $3.2 million YTD10)

Comments: Excluding currency fluctuations, revenues were flat in the quarter. Revenues from commercial manufacturing operations in the quarter were $138.7 million (+7%). PDS revenues were flat at $34.0 million. Loss from continuing operations was $3.2 million compared to a loss of $1.0 million in 3Q10. Corporate costs were up 62% to $8.9 million in the quarter due to higher consulting fees related to the newly announced strategic and operational review, as well as higher compensation expense.

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