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March 8, 2007
By: Tim Wright
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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