Patheon has posted a net income of $10.9m, compared to $0.5m for the prior year period. Operating income was $15m, compared to $13.4m for the prior year period. Adjusted EBITDA was $30m, up from $20.2m in the comparable period last year.
For the six months ended April 30, 2010, Patheon has posted a net loss of $0.2m, compared to $5.3m for the year ago period. Revenues were $330.2m, an increase of 5%, compared to $314.6m for the year ago period. Operating income was $8.4m, compared to $17.4m for the year ago period.
Patheon continues to anticipate that full fiscal year 2010 revenues and adjusted EBITDA will exceed comparable results from the prior year.
Wes Wheeler, CEO and president of Patheon, said: “We are seeing strong evidence of an improving pharmaceutical contract services business climate for Patheon.
“We are beginning to see stronger sales activity for our pharmaceutical development services business, and significantly higher levels of quotation activity in the commercial side of the business. We attribute this to an improving economy, increased funding activity and progress with plant consolidations.”