Patheon Inc. (PTI.TO) reported income from continuing operations of $0.1 million in its second-quarter, compared to a loss from of $79.6 million in the same period last year. The company said, improved operating performance in the current quarter and an impairment charge of $57.9 million in the same period last year contributed primarily to the year over year favorability. Income per share from continuing operations was $0.001, compared to a loss of $0.614 last year.
Revenues in the quarter increased to $253.9 million from $181.5 million in the same period last year, an increase of 39.9 percent. Banner represented $54.6 million of the increase and therefore, Patheon standalone revenues grew 9.9 percent compared to the same period last year.
Looking forward into 2013, the company said it anticipates revenues for the combined enterprise to be in excess of $1 billion annually.
For comments and feedback: editorial@rttnews.com