TORONTO, Feb. 1 /CNW/ - MDS Inc. (TSX: MDS; NYSE: MDZ), a leading
provider of products and services to the global life sciences markets, has
filed restated 2007 quarterly reports under US GAAP, as required by applicable
Canadian regulations, after filing its 2007 annual report and financial
statements in US GAAP for the first time earlier this week.
These restated quarterly reports also correct an error related to the US
GAAP valuation of certain stock-based compensation plans identified during the
year-end audit. The valuation was included in the 'Canadian to US GAAP'
reconciliation to the financial statements in previously filed 2007 MDS
quarterly reports. These stock-based compensation plans were correctly valued
under Canadian GAAP and in MDS' 2007 annual financial statements in US GAAP.
The restated quarterly reports are available in the "For Investors"
section of the MDS website at www.mdsinc.com.
To assist investors with understanding the impact of MDS' conversion from
Canadian to US GAAP, both an "MDS US GAAP Primer", which provides an overview
of the relevant differences between US and Canadian GAAP affecting MDS, and
reconciliation tables for MDS and its business units are also available on the
MDS website at www.mdsinc.com.
About MDS Inc.
MDS Inc. is a global life sciences company that provides market-leading
products and services that our customers need for the development of drugs and
the diagnosis and treatment of disease. We are a leading global provider of
pharmaceutical contract research, medical isotopes for molecular imaging,
radiotherapeutics, and analytical instruments. MDS has more than 5,500 highly
skilled people in 29 countries. Find out more at www.mdsinc.com or by calling
1-888-MDS-7222, 24 hours a day.
For further information:
For further information: Sharon Mathers, Senior Vice-President, Investor
Relations and External Communications, MDS Inc., (416) 675-6777 X34721,