Ms. Lurker continued, "We are also pleased to have signed an agreement with The Medical Affairs Company which will allow us to meet a wider variety of client demands for best-in-class field resources. This further expands our product offerings while leveraging our core abilities.
"In addition, we continue to manage costs and have consolidated office space in our marketing services business, resulting in a one-time charge of $1.8 million, which will generate future cost reductions for the Company moving forward. As previously disclosed, we also mutually terminated our product commercialization contract.
"We were also pleased to announce the appointment of current Director, Gerald Belle, as lead independent director. Jerry brings a wealth of strong leadership to the Board and I look forward to working more closely with him in the months and years to come.
"Finally, I want to note that while we have begun to benefit from the pharmaceutical industry's strategic shift in outsourced sales, the first half of 2009 was particularly challenging for our Marketing Services segment, as it was for similar companies across the industry. However, over the second half of the year, we expect to see an upswing in activity and we remain optimistic about the opportunity for this business segment going forward."
Financial Overview - Second Quarter 2009
For the quarter ended Ju
|SOURCE PDI, Inc.|
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