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news.Patheon, a provider of contract development and manufacturing services, has reported that net loss from continuing operations was $1.5 million, or $0.06 per share, for the first quarter ended January 31, 2009, compared to a net loss from continuing operations of $11.7 million, or $0.13 per share, for the same period in 2008.
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The company reported revenues of $147.2 million for the first quarter ended January 31, 2009, a decrease of 10.4%, compared to $164.2 million for the corresponding period of 2008.
Wes Wheeler, CEO and president of Patheon, said: “The improvement in profit performance this quarter reflects our 2008 restructuring activities and rigorous cost containment efforts. These improvements were achieved in our seasonally weakest quarter where revenues were down compared to the prior year largely as a result of the stronger US dollar versus our other major sales currencies.”