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PDL BioPharma Announces Fourth Quarter and Full Year 2009 Financial Results and Provides First Quarter 2010 Revenue Guidance
Date:3/2/2010

Royalties $57,902 $53,925 $305,049 $278,713 License and other 350 14,733 13,135 15,483 --- ------ ------ ------ Total revenues 58,252 68,658 318,184 294,196 General and administrative expenses 5,526 15,909 21,064 51,544 ----- ------ ------ ------ Operating income 52,726 52,749 297,120 242,652 Gain from repurchase of convertible notes - - 1,518 - Interest and other income, net 144 2,361 1,004 14,901 Interest expense (9,321) (3,555) (19,357) (14,219) ------ ------ ------- ------- Income from continuing operations before income taxes 43,549 51,555 280,285 243,334 Income tax expense (benefit) 14,989 (3,855) 90,625 5,014 ------ ------ ------ ----- Income from continuing operations 28,560 55,410 189,660 238,320 Loss from discontinued operations, net of income taxes (1) - (14,771) - (169,933) ------- ------- -------- ------- Net income $28,560 $40,639 $189,660 $68,387 ======= ======= ======== =======
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SOURCE PDL BioPharma, Inc.
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