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Financial Report: Catalent Pharma Solutions 3Q08

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Catalent Pharma Solutions

3Q Revenues: $453.3 million (+4%)

3Q Loss: $31 million (earnings were $21.8 million in 1Q07)

YTD Revenues: $1.4 billion (+8%)

YTD Loss: $72.5 million (earnings were $41.4 million YTD07)

Comments: The company attributed its revenue growth primarily to the effect of a weaker dollar. Without that factor, net revenues would have declined 2%, due primarily to lower North American volumes in printed components and commercial packaging. Sterile Technologies revenue was $76.7 million (+18%) in the quarter and $221.3 million YTD (+22%), thanks in part to the company’s new steriles facility in Brussels. Packaging Services revenue was $125.3 million (-12%) in the quarter and $410.7 million YTD (-1%). SG&A expenses were $80.1 million (+21%) in the quarter and $238.6 million YTD (+11%).

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