Citing growth among its key products, Nordion achieved double-digit growth in its 2011 fiscal year (end-October 31), although fourth-quarter numbers dipped.
For fiscal 2011, revenues increased 23% to $274 million U.S., compared with revenues of $220 million U.S. in fiscal 2010. The company also posted net income from continuing operations of $43.5 million in fiscal 2011, compared with a loss of $83.8 million in the last fiscal year.
In the fourth quarter, revenues declined 9% to $74 million, compared with $81.6 million in the fourth quarter of fiscal 2010. Net income from continuing operations was $6.5 million, down 55% from $14.4 million in the fourth quarter of fiscal 2010.
In a written statement, Nordion CEO Steve West said the company's TheraSphere, cobalt-60, and molybdenum-99 activities continued to deliver "robust results contributing to our bottom-line performance."
