Nordion Reports Fourth Quarter and Fiscal 2012 Financial Results; Provides Fiscal 2013 Outlook

  Nordion Reports Fourth Quarter and Fiscal 2012 Financial Results; Provides
  Fiscal 2013 Outlook

  *Fourth quarter fiscal 2012 revenue of $74.7 million, up 1% from fiscal
    2011; full year revenue of $244.8 million, down 11% from fiscal 2011
  *TheraSphere® revenue for fourth quarter fiscal 2012 increased to $12.0
    million, up 10% from fourth quarter fiscal 2011; full year TheraSphere
    revenue was up 14% from fiscal 2011
  *Extended Mo-99 contract with Lantheus Medical Imaging for two additional
    years to 2015

Nordion reports in U.S. dollars unless otherwise specified

Business Wire

OTTAWA -- January 28, 2013

Nordion Inc. (TSX: NDN) (NYSE: NDZ), a leading provider of products and
services to the global health science market, today reported results for the
fiscal fourth quarter and year ended October 31, 2012. The Company generated
$74.7 million in revenue for the fourth quarter fiscal 2012, an increase of
$0.7 million, or 1%, over revenue of $74.0 million for the same period in
fiscal 2011. Revenue for full year fiscal 2012 was $244.8 million, down 11%
from revenue of $274.0 million in fiscal 2011.

Excluding the specified items shown on the attached non-GAAP reconciliation
table, adjusted net income for the fourth quarter increased to $21.4 million
from adjusted net income of $18.7 million during the same period in the
previous fiscal year. Nordion had a GAAP net loss of $43.5 million in its
fiscal 2012 fourth quarter, compared with GAAP net income of $6.9 million in
the fourth quarter fiscal 2011. Fourth-quarter adjusted non-GAAP earnings per
share (EPS) increased to $0.34 compared with $0.30 non-GAAP EPS in the fourth
quarter of 2011. A GAAP loss per share (LPS) of $0.70 was recorded in the
fourth quarter of 2012 versus an $0.11 EPS in the same period last year.

Adjusted net income for full year fiscal 2012 decreased to $48.7 million from
$49.9 million in fiscal 2011. Fiscal 2012 GAAP net loss was $28.9 million,
compared with net income of $16.8 million in fiscal 2011. Fiscal 2012 adjusted
non-GAAP EPS was $0.79 compared to $0.77 for fiscal 2011. GAAP LPS of $0.47 in
the fiscal 2012 decreased versus $0.26 GAAP EPS in the same period last year.

“Nordion capped off the fiscal year with solid fourth quarter operational
results, as revenue and gross margins strengthened across the business,” said
Mr. Steve West, Chief Executive Officer, Nordion Inc. “While we continue to
work through some uncertainty, we made progress during the quarter, completing
the organizational realignment, thereby positioning the Company for improved
execution.”


Consolidated Financial Results
GAAP
              Three months ended October 31  Twelve months ended October 31
(thousands of
U.S. dollars,    2012      2011    %        2012       2011     %
except when                           Change                            Change
noted)
Revenues       $  74,671    74,000  1%      $ 244,840   $ 274,027  (11%)
                                                                        
Gross margin      59%        57%      2%         55%          54%       1%
                                                                        
Net (loss)     $  (43,505)   6,901    (730%)   $ (28,869)   $ 16,847    (271%)
income
                                                                        
Diluted (loss)
earnings per   $  (0.70)     0.11     (736%)   $ (0.47)     $ 0.26      (281%)
share
                                                                        
Cash and cash  $  109,360    74,067   48%      $ 109,360    $ 74,067    48%
equivalents
                                                                        
Weighted
average number
of Common
shares           61,947    63,031  (2%)     62,030     64,809   (4%)
outstanding –
diluted
(thousands of
shares)
                                               
Non-GAAP^1
              Three months ended October 31  Twelve months ended October 31
(thousands of
U.S. dollars,    2012      2011    %        2012       2011     %
except when                           Change                            Change
noted)
Adjusted net   $  21,350     18,708   14%      $ 48,747     $ 49,833    (2%)
income
                                                                        
Adjusted
diluted        $  0.34      0.30    13%     $ 0.79      $ 0.77     2%
earnings per
share
1 See Non-GAAP reconciliation table at the end of this release


Progress Made Subsequent to Fourth Quarter Fiscal 2012

Engaging in Review of Strategic Alternatives

With a view to enhancing shareholder value and creating new opportunities the
Company has initiated a review of strategic alternatives. Jefferies & Company
has been engaged to advise and assist in this review. No decision has been
made to enter into any specific strategic transaction or any other strategic
alternative at this time, and there can be no assurance that Nordion will
enter into a transaction in the future. The Company does not plan to disclose
or comment on developments regarding the strategic review process until
further disclosure is deemed appropriate. Nordion intends to continue with
planned business activities throughout the strategic alternatives review
process.

Credit Facility

On January 25, 2013, Nordion entered an $80 million Amended and Restated
senior secured credit facility agreement with the Toronto-Dominion Bank and a
select group of other financial institutions. The credit facilities consist of
a $20 million revolving credit facility and a separate facility of up to $60
million to be used for the issuance of letters of credit. The latter facility
will be fully secured including a specific pledge of cash collateral. Cash
pledged against the facility will be reported as restricted cash and will be
unavailable for operation.

AECL Arbitration and Claim Update

In fourth quarter fiscal 2012, Nordion also announced that the arbitration
tribunal dismissed AECL’s counterclaim against Nordion for damages for breach
of contract in the amount of $250 million and other relief. The appeal period
has expired and neither party appealed the decision. The arbitrators have yet
to decide on the issue of costs, and requested that Nordion and AECL make
submissions. AECL has submitted total arbitration-related costs of
approximately $46 million. The tribunal is expected to schedule proceedings to
hear both parties during the Company’s second quarter fiscal 2013. As the
decision of the tribunal favoured AECL, Nordion may be responsible for a
portion of AECL’s costs, which could be material. Nordion is currently
assessing the legal merits and financial implications of AECL’s cost
submission.

On January 18, 2013, Nordion filed an amended statement of claim against AECL
in the Ontario Superior Court of Justice in relation to the 1996 Isotope
Production Facilities Agreement (IPFA). The claim requests damages in the
amount of $243.5 million for negligence and breach of the IPFA, as well as
pre- and post-judgment interest and costs.

Fourth Quarter and Fiscal 2012 Segment Results

Following the strategic organizational realignment announced on September 12,
2012, the sole product that is now reported in Targeted Therapies is Nordion’s
innovative liver cancer treatment, TheraSphere®. Contract Manufacturing is now
reported under Medical Isotopes.

Targeted Therapies

TheraSphere® revenue for fourth quarter fiscal 2012 of $12.0 million increased
by $1.1 million or 10% compared with fourth quarter fiscal 2011. Targeted
Therapies revenue for fiscal 2012 of $48.5 million increased by $5.9 million
or 14% compared with fiscal 2011.

The annual increase in TheraSphere revenue was primarily due to adoption by
new clinics. Management believes the continued growth of TheraSphere is
attributable to positive perceptions regarding TheraSphere, including its
simplified delivery system, it is well-tolerated by patients, and offering of
custom doses, and the Company’s investment in global sales and marketing.

Sterilization Technologies

Sterilization Technologies revenue for fourth quarter fiscal 2012 of $32.3
million decreased by $0.2 million or 0.5% compared with fourth quarter fiscal
2011. Revenue from Cobalt of $31.0 million in fourth quarter fiscal 2012
increased by $2.9 million or 10% due to increased shipments during this
period. Additionally, the volume of Cobalt-60 shipped in the second half of
fiscal 2012 was more than twice the volume shipped in the first half of fiscal
2012.

Sterilization-Other revenue of $1.3 million decreased by $3.1 million or 70%
in fourth quarter fiscal 2012, compared with fourth quarter fiscal 2011. No
production irradiators were shipped during the quarter; however there was one
shipped in fourth quarter fiscal 2011.

Overall Sterilization Technologies revenue for fiscal 2012 of $95.4 million,
decreased by $13.2 million or 12% compared with fiscal 2011. Cobalt revenue of
$92.4 million in fiscal 2012 decreased by $4.6 million or 5% compared with
fiscal 2011. Sterilization-Other revenue of $3.0 million was down $8.6 million
or 74% over the same period of the prior year.

Medical Isotopes

Medical Isotopes revenue for fourth quarter fiscal 2012 of $30.3 million
decreased by $0.3 million or 1% compared with fourth quarter fiscal 2011.
Reactor isotopes revenue of $24.8 million in fourth quarter fiscal 2012,
increased by $2.9 million or 13% primarily due to additional revenue the
Company recognized for a short fall in Mo-99 orders below minimum contract
commitments from a customer during the quarter. Cyclotron isotopes revenue of
$3.6 million increased by $0.3 million or 10%, and Contract Manufacturing
revenue of $2.0 million decreased by $3.5 million or 64%, compared with the
same period of the prior year.

Medical Isotopes revenue for fiscal 2012 of $101.0 million decreased by $21.8
million or 18% compared with fiscal 2011. Reactor isotopes revenue of $77.4
million decreased by $7.7 million or 9% in fiscal 2012 due to lower volume
demand and pricing from customers. Cyclotron isotopes revenue for fiscal 2012
of $15.5 million decreased by $3.0 million or 16% compared with fiscal 2011
due to a decrease in sales volumes. Contract Manufacturing revenue for fiscal
2012 of $8.1 million declined by $11.2 million or 58% year-over-year due to
CardioGen-82®, which Nordion has not manufactured since first quarter fiscal
2011, and the completion of development projects in 2011.

Corporate and Other

Corporate and Other segment loss was $1.3 million in fourth quarter fiscal
2012, up $0.9 million or 289%, compared with the fourth quarter fiscal 2011.
The main driver of this increase was foreign exchange gains and tax and
insurance credits in the fourth quarter of fiscal 2011 partially offset by
lower stock based compensation in fiscal 2012.

Corporate and Other segment loss of $8.7 million in fiscal 2012 decreased by
$3.7 million or 30% from $12.4 million of segment loss incurred in fiscal
2011. Corporate SG&A expense for fiscal 2012 increased by $2.1 million or 27%
from fiscal 2011 due to a favorable insurance adjustment made in fiscal 2011.
Other (income) expenses, net improved $5.8 million compared to fiscal 2011
primarily due to a lower foreign exchange loss in fiscal 2012, compared with
fiscal 2011.

Nordion recorded $24.1 million of Other expenses, net in fourth quarter of
fiscal 2012 relating to ongoing litigation matters.

Fiscal 2013 Outlook Summary

The following is a summary of Nordion’s outlook for fiscal 2013. Please refer
to Nordion’s fiscal 2012 Management’s Discussion and Analysis for a more
comprehensive outlook and discussion.

Targeted Therapies

  *TheraSphere revenue is expected to grow in the mid-teen percentage range
    in fiscal 2013;
  *Phase 3 clinical trial spending is expected to be in the range of $6
    million to $8 million in fiscal 2013; and,
  *Nordion intends to make significant additional investments in fiscal 2013
    to support TheraSphere’s long-term global growth.

Sterilization Technologies

  *In fiscal 2013, Sterilization Technologies revenue is expected to be
    approximately the same as in fiscal 2012. Co-60 revenue is expected to be
    similar to fiscal 2012;
  *The fiscal 2013 quarterly profile of Co-60 revenue is expected to be
    similar to fiscal 2012, with higher shipments in the second half of fiscal
    2013 compared with the first half; and,
  *Currently, Nordion does not have orders for production irradiators.

Medical Isotopes

  *Total Medical Isotopes revenue is expected to decline approximately 20% in
    fiscal 2013, compared with fiscal 2012.

Corporate SG&A

  *Fiscal 2013 corporate SG&A is expected to increase compared with fiscal
    2012 corporate SG&A due to additional investment in the Company’s
    compliance efforts to support global operations.

Other

  *Pension expense is expected to increase by approximately $7 million in
    fiscal 2013. The increase in pension expense is expected to impact SG&A
    across the Targeted Therapies, Sterilization Technologies and Medical
    Isotopes business segments; and,
  *Spending on the internal investigation currently is expected to be
    approximately $10 million in fiscal 2013.

A full copy of Nordion’s fourth quarter and fiscal 2012 Management’s
Discussion and Analysis and the financial statements and notes can be
downloaded at www.nordion.com/investors.

Nordion has filed its 2012 Annual Report on Form 40-F with the Securities and
Exchange Commission, including its audited consolidated financial statements
and notes for the year ended October 31, 2012, and related management’s
discussion and analysis. To view the Company’s annual disclosure documents,
visit Nordion’s website at www.nordion.com/investors. Print copies can be
ordered on the Company’s website free of charge upon request at
www.nordion.com/investors/report_request_form.asp.

Conference Call

Nordion will hold a conference call on Monday, January 28, 2013 at 10:00 a.m.
ET to discuss its fourth quarter and year-end fiscal 2012 results. This call
will be webcast live at www.nordion.com, and will be available after the call
in archived format at http://www.nordion.com/webcasts. To participate, please
dial 1-866-223-7781 (toll-free North America) or 1-416-340-8018
(International).

About Nordion Inc.

Nordion Inc. (TSX: NDN) (NYSE: NDZ) is a global health science company that
provides market-leading products used for the prevention, diagnosis and
treatment of disease. We are a leading provider of targeted therapies,
sterilization technologies, and medical isotopes that benefit the lives of
millions of people in more than 60 countries around the world. Our products
are used daily by pharmaceutical and biotechnology companies, medical-device
manufacturers, hospitals, clinics and research laboratories. Nordion has
approximately 500 highly skilled employees worldwide. Find out more at
www.nordion.com and follow us at http://twitter.com/NordionInc.

Caution Concerning Forward-Looking Statements

This release  contains forward-looking statements, within the meaning of
applicable securities laws, including under applicable Canadian securities
laws and the “safe harbour” provisions of the United States Private Securities
Litigation Reform Act of 1995. These statements can be identified by
expressions of belief, expectation or intention, as well as those statements
that are not historical fact. The words “may”, “will”, “could”, “should”,
“would”, “outlook”, “believe”, “plan”, “anticipate”, “estimate”, “project”,
“expect”, “intend”, “indicate”, “forecast”, “objective”, “optimistic”, and
similar words and expressions are also intended to identify forward-looking
statements. Forward-looking statements are necessarily based on estimates and
assumptions made by us in light of our experience and our perception of
historical trends, current conditions and expected future developments, as
well as other factors that we believe are appropriate in the circumstances,
but which are inherently subject to significant business, political, economic
and competitive uncertainties and contingencies. Known and unknown factors
could cause actual results to differ materially from those projected in the
forward-looking statements. Accordingly, this release is subject to the
disclaimer and qualified by the assumptions, qualifications and risk factors
referred to in our 2012 Annual Information Form (AIF). Factors that could
cause actual results or events to differ materially from current expectations
include, but are not limited to, fluctuations in supply and demand, pricing
pressures and rising costs, changes in currency and exchange rates and
potential adverse developments in new and pending legal proceedings or
regulatory investigations,  as well as  the risk factors which are described
in section 5 of our 2012 AIF and in our other filings with the Canadian
provincial securities commissions and the US Securities and Exchange
Commission, and our success in anticipating and managing those risks. We
caution readers not to place undue reliance on the Company’s forward-looking
statements, as a number of factors could cause our actual results, performance
or achievements to differ materially from the beliefs, plans, objectives,
expectations, anticipations, estimates and intentions expressed in such
forward-looking statements.The Company does not assume any obligation to
update or revise any forward-looking statements, whether written or oral, that
may be made from time to time by us or on our behalf, except as required by
applicable law.

Non-GAAP Information

To supplement the financial measures prepared in accordance with generally
accepted accounting principles (GAAP), the company uses non-GAAP financial
measures such as adjusted net income and adjusted earnings per share. Non-GAAP
financial measures exclude certain items, such as restructuring charges and
recovery, change in fair value of embedded derivatives, AECL arbitration and
legal fees, loss and gains on sales of investments, loss or gains on
discontinued operations, and tax effects on adjusted items. Management uses
non-GAAP financial measures internally for strategic decision making,
forecasting future results and evaluating current performance. By disclosing
non-GAAP financial measures, management intends to provide investors with a
meaningful, consistent comparison of the company's core operating results and
trends for the periods presented. Non-GAAP financial measures are not prepared
in accordance with GAAP. Therefore, the information is not necessarily
comparable to other companies and should be considered as a supplement to, not
a substitute for, or superior to, the corresponding measures calculated in
accordance with GAAP.

                                             
Segment Financial Results (with reconciliation to net (loss) income)
                                               
             Three months ended October 31   Year ended October 31
(thousands of
U.S. dollars,                         %                                  %
except per     2012       2011    Change   2012       2011      Change
share
amounts)
Revenues                                                   
Targeted      $ 12,023    $ 10,884  10%      $ 48,451    $ 42,576    14%
Therapies
Sterilization   32,311       32,467   -          95,434       108,662    (12%)
Technologies
Medical        30,337     30,649  (1%)     100,955    122,789   (18%)
Isotopes
Consolidated
segment
revenues from $ 74,671    $ 74,000  1%      $ 244,840   $ 274,027   (11%)
continuing
operations
                                                                         
Segment
earnings
(loss)
Targeted      $ 2,809      $ 2,196    23%      $ 14,078     $ 12,652     11%
Therapies
Sterilization   16,676       14,480   15%        39,037       46,140     (15%)
Technologies
Medical         11,251       11,411   (1%)       29,439       38,342     (23%)
Isotopes
Corporate and  (1,273)    (327)   (289%)   (8,706)    (12,358)  30%
Other
Total segment $ 29,463    $ 27,760  6%      $ 73,848    $ 84,776    (13%)
earnings
                                                                         
Depreciation
and             3,233        5,700    (43%)      17,080       22,375     (24%)
amortization
Restructuring   2,480        1,016    144%       1,781        1,592      12%
charges, net
AECL
arbitration     802          2,466    (67%)      5,576        12,172     (54%)
and legal
costs
Litigation      24,058       -        100%       24,058       -          100%
accruals
Internal
investigation   8,471        -        100%       9,827        -          100%
costs
Change in
fair value of   3,603        12,970   (72%)      12,020       (2,649)    (554%)
embedded
derivatives
Loss on
Celerion note   -            -        -          2,411        -          100%
receivable
Gain on sale   -          -       -        -          (1,691)   (100%)
of investment
Consolidated
operating
(loss) income $ (13,184)  $ 5,608   (335%)  $ 1,095     $ 52,977    (98%)
from
continuing
operations
                                                                         
Net interest    1,308        1,591    (18%)      2,429        7,775      (69%)
income
Equity loss     -            -        -          -            (128)      (100%)
Income tax      (31,629)     (700)    (442%)     (32,393)     (17,122)   (89%)
expense
Income (loss)
from
discontinued   -          402     (100%)   -          (26,655)  (100%)
operations
net of income
taxes
Net (loss)    $ (43,505)  $ 6,901   (730%)  $ (28,869)  $ 16,847    (271%)
income
                                                                         


Non-GAAP Reconciliation
                                              
             Three months ended October 31    Year ended October 31
(thousands of
U.S. dollars,                          %                                 %
except per     2012       2011     Change   2012       2011     Change
share
amounts)
Net (loss)    $ (43,505)  $ 6,901    (730%)   $ (28,869)  $ 16,847   (271%)
income
Adjusted for
specified
items:
Restructuring   2,480        1,016     144%       1,781        1,592     12%
charges, net
Change in
fair value of   3,603        12,970    (72%)      12,020       (2,649)   554%
embedded
derivatives
AECL
arbitration     802          2,466     (67%)      5,576        12,172    (54%)
and legal
fees
Litigation      24,058       -         100%       24,058       -         100%
accruals
Internal
investigation   8,471        -         100%       9,827        -         100%
costs
Loss on
Celerion note   -            -         -          2,411        -         100%
receivable
Gain on sale    -            -         -          -            (1,691)   100%
of investment
Tax effect on
specified       (9,920)      (4,243)   134%       (13,418)     (3,043)   341%
items listed
above
Valuation
allowance on    35,361       -         100%       35,361       -         100%
deferred tax
assets
(Income) loss
on
discontinued   -          (402)    (100%)   -          26,655   (100%)
operations,
net of tax
Adjusted net  $ 21,350    $ 18,708   14%     $ 48,747    $ 49,883   (2%)
income
                                                                         
Diluted
(loss)          (0.70)       0.11      (736%)     (0.47)       0.26      (281%)
earnings per
share
Adjusted
diluted         0.34         0.30      13%        0.79         0.77      2%
earnings per
share
Weighted
average
number of
Common shares  61,947     63,031   (2%)     62,030     64,809   (4%)
outstanding –
diluted
(thousands of
shares)
                                                                         

                                                                 
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION                   
As at October 31
                                                                   
(thousands of U.S. dollars, except share amounts)     2012       2011
ASSETS
Current assets
Cash and cash equivalents                            $ 109,360     $ 74,067
Accounts receivable                                    46,488        38,999
Notes receivable                                       4,004         16,061
Inventories                                            33,977        30,595
Income taxes recoverable                               23,951        22,857
Current portion of deferred tax assets                 4,141         7,661
Other current assets                                   2,042         13,842
Assets of discontinued operations                     -           936
Total current assets                                   223,963       205,018
                                                                     
Property, plant and equipment, net                     88,217        97,690
Deferred tax assets                                    52,855        73,237
Long-term investments                                  1,450         1,473
Other long-term assets                                62,096      81,245
Total assets                                         $ 428,581    $ 458,663
                                                                     
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Accounts payable                                     $ 18,783      $ 13,661
Accrued liabilities                                    80,322        52,914
Income taxes payable                                   9,494         4,238
Current portion of long-term debt                      4,190         4,156
Current portion of deferred revenue                    1,500         1,820
Liabilities of discontinued operations                -           4,079
Total current liabilities                              114,289       80,868
                                                                     
Long-term debt                                         39,141        40,174
Deferred revenue                                       1,958         3,855
Long-term income taxes payable                         3,960         9,369
Other long-term liabilities                           74,468      39,619
Total liabilities                                     233,816     173,885
                                                                     
Shareholders’ equity
Common shares at par – Authorized shares: unlimited;
Issued and outstanding shares: 61,909,101 and          252,168       254,076
62,378,521, respectively;
Additional paid-in capital                             84,726        83,159
Accumulated deficit                                    (265,474)     (216,789)
Accumulated other comprehensive income                123,345     164,332
Total shareholders’ equity                            194,765     284,778
Total liabilities and shareholders’ equity           $ 428,581    $ 458,663
                                                                     


CONSOLIDATED STATEMENTS OF OPERATIONS
Years ended October 31                                            
                                                                    
(thousands of U.S. dollars, except per share amounts)   2012      2011
Revenues                                               $ 244,840   $ 274,027
Costs and expenses
Direct cost of revenues                                  110,992      126,076
Selling, general and administration                      69,831       65,107
Depreciation and amortization                            17,080       22,375
Restructuring charges, net                               1,781        1,592
Change in fair value of embedded derivative              12,020       (2,649)
Other expenses, net                                     32,041     8,549
Total costs and expenses                                243,745    221,050
Operating income from continuing operations              1,095        52,977
Interest expense                                         (4,406)      (2,499)
Interest and dividend income                             6,835        10,274
Equity loss                                             -          (128)
Income from continuing operations before income taxes   3,524      60,624
Income tax expense
-current                                                 (5,744)      13,456
-deferred                                               38,137     3,666
                                                       32,393     17,122
(Loss) income from continuing operations                 (28,869)     43,502
Loss from discontinued operations, net of income taxes  -          (26,655)
Net (loss) income                                      $ (28,869)  $ 16,847
                                                                      
Basic and diluted (loss) earnings per share
- from continuing operations                           $ (0.47)     $ 0.67
- from discontinued operations                          -          (0.41)
Basic and diluted (loss) earnings per share            $ (0.47)    $ 0.26
                                                                      

                                                                  
CONSOLIDATED STATEMENTS OF CASH FLOWS                             
Years ended October 31
                                                                      
(thousands of U.S. dollars)                             2012       2011
Operating activities
Net (loss) income                                      $ (28,869)   $ 16,847
Loss from discontinued operations, net of income taxes  -          (26,655)
(Loss) income from continuing operations                 (28,869)     43,502
Adjustments to reconcile net loss to cash provided by
(used in) operating activities relating to continuing
operations:
Items not affecting current cash flows                   84,394       27,063
Changes in operating assets and liabilities             7,871      (33,456)
Cash provided by operating activities of continuing      63,396       37,109
operations
Cash used in operating activities of discontinued       -          (18,592)
operations
Cash provided by operating activities                   63,396     18,517
Investing activities
Purchase of property, plant and equipment                (7,384)      (6,732)
Decrease in restricted cash                              1,941        26,592
Proceeds on sale of long-term investments               -          1,668
Cash (used in) provided by investing activities of       (5,443)      21,528
continuing operations
Cash (used in) investing activities of discontinued     -          (18,412)
operations
Cash (used in) provided by investing activities         (5,443)    3,116
Financing activities
Payment of cash dividends                                (18,632)     (19,244)
Repurchase and cancellation of Common shares             (4,044)      (52,398)
Issuance of shares                                      1          -
Cash used in financing activities of continuing          (22,675)     (71,642)
operations
Cash used in financing activities of discontinued       -          (1,193)
operations
Cash used in financing activities                       (22,675)   (72,835)
Effect of foreign exchange rate changes on cash and     15         2,467
cash equivalents
Net increase (decrease) in cash and cash equivalents     35,293       (48,735)
during the year
Cash and cash equivalents, beginning of year            74,067     122,802
Cash and cash equivalents, end of year                 $ 109,360   $ 74,067
Cash interest paid                                     $ 4,504      $ 2,479
Cash taxes (refunded) paid                             $ (1,130)   $ (2,775)

Contact:

Nordion Inc.
Investors:
Ana Raman, 613-595-4580
investor.relations@nordion.com
or
Media:
Tamra Benjamin, 613-592-3400 x1022
tamra.benjamin@nordion.com
 
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