Other income, which is primarily interest income, declined by $0.7 million in 2009 compared to 2008 due to a combination of lower available cash and cash equivalents and the Company's more conservative investing practices in 2009 compared to 2008.
Total operating loss for the second quarter of 2009 was $4.7 million compared to $7.9 million in the same period of 2008. Net loss per share for the second quarter of 2009 was $0.34 compared to $0.52 in 2008.
Cash and cash equivalents as of June 30, 2009 were $76.2 million, a $4.7 million decline from March 31, 2009 and a $13.9 million decline from December 31, 2008. This decrease is primarily attributable to the operating loss and cash expenses relating to the Company's commitments under its product commercialization contract. As of June 30, 2009, the Company's cash equivalents were predominately invested in Treasury money market funds and the Company had no commercial debt.
As previously announced, PDI will hold a conference call today, to discuss financial and operational results of the second quarter ended June 30, 2009 as follows:
Time: 4:30 pm (ET) Dial-in numbers: 866-644-4654 (U.S. & Canada) or 706-643-1203 Conference ID#: 22718573 Live webcast: www.pdi-inc.com
The teleconference replay will be available two hours after completion through Friday, August 7, 2009 by dialing 800-642-1687 (U.S. & Canada) or 706-645-9291 and entering conference ID 22718573. The archived webcast will be available for one year on the Company's investor website, www.pdi-inc.com.
|SOURCE PDI, Inc.|
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