NORDION INC. $6.58 (Toronto symbol NDN; Aggressive Growth Portfolio, Consumer sector; Shares outstanding: 62.0 million; Market cap: $408.0 million; Price-to-sales ratio: 1.8; No dividends paid since July 2012; TSINetwork Rating: Extra Risk; www.nordion.com) gets 40% of its revenue from selling isotopes for medical research and cancer treatments. Most of its isotopes come from Atomic Energy of Canada Ltd.’s aging Chalk River nuclear reactor near Ottawa, which will close in 2016.
The company recently lost its arbitration case against Atomic Energy over a failed plan to build two new reactors that would have replaced Chalk River. As a result, Nordion may now have to pay all or some of Atomic Energy’s $46 million in legal costs. At July 31, 2012, Nordion held cash of $81.9 million U.S., or $1.32 U.S. a share. Its long-term debt was $40.3 million U.S.
Nordion has also cancelled its deal to buy isotopes from its current supplier in Russia. It now plans to buy them from that country’s Research Institute of Atomic Reactors (RIAR). Nordion feels RIAR will be more reliable. However, it still needs to find more suppliers before Chalk River closes.
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Privacy Policy and Terms of Use
The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
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The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
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