In the wake of a difficult fiscal 2012, Nordion has hired advisors to explore strategic alternatives.
Revenues for its 2012 fiscal year (end-October 31, 2012) reached $244.8 million, down 11% from the $274 million reported in fiscal 2011. Nordion recorded a net loss of $28.8 million in fiscal 2012, compared with net income of $16.8 million in fiscal 2011.
Revenues in the fourth quarter of fiscal 2012 increased 1% to $74.6 million, compared with $74 million in the same quarter of the previous fiscal year. The company also posted a net loss of $3.5 million, compared with net income of $6.9 million in the same quarter a year ago.
On January 28, Nordion announced it had hired financial advisor Jefferies & Co. to explore strategic alternatives with an aim to enhance shareholder value and create new opportunities. The company said it intends to continue with planned business activities throughout the strategic alternatives review process.
Nordion CEO Steve West said the review was in its "early stages" and declined additional comment, according to a report by Reuters.
