10:01 AM EST - Patheon, Inc. : reported a narrower loss for the first quarter, which reflect improved cost structure and favorable foreign exchange movements. Loss for the quarter was $6.0 million U.S. compared to a net loss of $14.7 million U.S. last year. On a per-share basis, loss was $0.106 U.S. compared to a loss of $0.162 U.S. in the prior-year quarter. Loss from continuing operations was $1.5 million U.S., or $0.056 U.S. per share, compared to $11.7 million U.S., or $0.129 U.S. in the comparable period a year ago. Revenues for the quarter decreased 10.4 per cent to $147.2 million U.S. from $164.2 million U.S. in the prior year, impacted primarily due to the stronger U.S. dollar compared to other major sales currencies. Gross profit for the quarter grew 18.6 per cent to $30.7 million U.S. from $25.9 million U.S., which the company attributes to an improved cost structure, favorable foreign exchange impact on operating costs and lower inventory provisions. Gross profit margin for the period increased to 20.9 per cent from 15.8 per cent. Patheon, Inc.
shares T.PTI are trading up $0.06 at $2.11.
