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PDI Reports 2009 Second Quarter Financial Results
Date:8/5/2009

SADDLE RIVER, N.J., Aug. 5 /PRNewswire-FirstCall/ -- PDI, Inc. (Nasdaq: PDII), a leading provider of sales and marketing support to U.S. pharmaceutical companies, today reported financial and operational results for the second quarter ended June 30, 2009. Recent highlights include:

  • Four new business wins expected to exceed $18 million in revenue over 12 months
  • Signed agreement with The Medical Affairs Company (TMAC(R)) to enhance our service offerings
  • Facilities realignment and continued cost reductions
  • Mutual termination of product commercialization contract
  • Appointment of current director Gerald P. Belle to the newly-established position of lead independent director

Commenting on today's announcement, Nancy Lurker, Chief Executive Officer of PDI, Inc., stated, "While we recognize that the first half of the year has been difficult, with operating losses of $4.7 million and $10.3 million for the second quarter and first six months, respectively, we are working diligently to improve the Company's financial position and are optimistic that these efforts will pay off. Thus far in 2009, we have implemented a number of initiatives to advance PDI to a more solid competitive stance, including leveraging and expanding our core CSO capabilities, strategically adding to management, reducing expenses and taking appropriate charges in order to better structure the Company for future success. We are confident that adherence to this strategy will put us on a trajectory toward profitability as we strategically align the business units to be profitable while adding new, high quality personnel with the experience and drive to build our business.

"Notably, during the quarter we announced
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SOURCE PDI, Inc.
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