November 9, 2009 / 12:45 PM / 8 years ago

UPDATE 1-Angiotech posts narrower quarterly loss

* Share loss 9 cents vs year-earlier loss $7.31

* Adj EPS was nil

* Adjusted revenue flat at $63.2 mln (Adds details; in U.S. dollars)

TORONTO, Nov 9 (Reuters) - Canada’s Angiotech Pharmaceuticals Inc ANP.TO reported a much smaller third-quarter loss than a year earlier, when the medical device company booked a huge writedown of goodwill.

The Vancouver-based company said on Monday that the loss narrowed to $7.8 million, or 9 cents a share, from $622.4 million, or $7.31 a share, a year earlier.

The year-earlier period included a $612.9 million writedown of goodwill from the 2006 purchase of devices company American Medical Instrument.

Adjusted to exclude certain noncash and nonrecurring items, the company said it earned $72,000, or nil cents a share.

Adjusted revenue for the quarter was flat at $63.2 million. ($1=$1.06 Canadian) (Reporting by Scott Anderson; Editing by Lisa Von Ahn)

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