Nordion Q3 Profit Surges - Quick Facts

(RTTNews) - Health science company Nordion Inc. (NDN.TO, NDZ) Thursday reported a surge in its third-quarter profit, mainly due to a gain on the sale of its Targeted Therapies business. Excluding specified items, the company's earnings exceeded the analysts' estimate.

The company reported net income of $180.4 million or $2.91 per share, compared with $12.3million or $0.20 last year. This year net income includes a gain on sale of about $188.8 million.

Excluding the gain on the sale of its business, the company reported adjusted net income of $12.6 million or $0.20 per share. On average, three analysts polled by Thomson Reuters expected earnings per share of $0.18 for the third quarter. Analysts' estimates typically exclude one-time items.

For the three-month period, the company reported a 7 percent increase in revenues to $71.7 million, from $67.1 million a year ago. The Street estimated the company to generate revenues of $61.12 million.