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Financial Report: Patheon 1Q

Operating income was $3.9 million in the quarter, compared to a loss of $4.0 million in 1Q08. Gross profit was up 19% to $30.7 million due to improved cost structure, favorable foreign exchange impact and lower inventory provisions, offsetting lower reven

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Patheon 1Q 1Q Revenues: $147.2 million (-10%) 1Q Loss: $6.0 million (loss of $15.0 million 1Q08) Comments: Operating income was $3.9 million in the quarter, compared to a loss of $4.0 million in 1Q08. Gross profit was up 19% to $30.7 million due to improved cost structure, favorable foreign exchange impact and lower inventory provisions, offsetting lower revenues. Commercial manufacturing revenues from operations decreased 12%, or $16.2 million. Revenues from North American operations ...

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