NOTE: PDL BioPharma and the PDL BioPharma logo are considered trademarks of PDL BioPharma, Inc.
Forward-looking StatementsThis press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Each of these forward-looking statements involves risks and uncertainties. Actual results may differ materially from those, express or implied, in these forward-looking statements. Important factors that could impair the value of the Company's royalty assets, restrict or impede the ability of the Company to invest in new royalty bearing assets and limit the Company's ability to pay dividends are disclosed in the risk factors contained in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission and updated by subsequent Quarterly Reports on Form 10-Q. All forward-looking statements are expressly qualified in their entirety by such factors. We do not undertake any duty to update any forward-looking statement except as required by law.PDL BIOPHARMA, INC.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS DATA(Unaudited)(In thousands, except per share amounts)Three Months EndedYear EndedDecember 31,December 31,2011201020112010RevenuesRoyalties$ 72,808$ 74,629$ 351,641$ 343,475License and other-1,50010,4001,500Total revenues72,80876,129362,041344,975Operating ExpensesGeneral and administrative expenses4,82212,05618,33841,396Legal Settlement-92,500-92,500Total operating expenses4,822104,55618,338133,896Operating income (loss)67,986(28,427)343,703211,079Non-operating expense, netGain (loss) on retirement or conversion of convertible notes-1,033(766)(17,648)Interest and other income, net130131593468Interest expense(8,161)(9,514)(36,102)(43,529)Total non-operating expense, net(8,031)(8,350)(36,275)(60,709)Income befor
|SOURCE PDL BioPharma, Inc.|
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