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PDI Reports 2009 Fourth Quarter and Full Year Financial Results
Date:3/4/2010

n-money">$23.9 million for 2008. While our Pharmakon business unit had revenue growth in the second half of 2009, it was not enough to offset the softness in the market for these services in the first six months of 2009 and the overall softness in the demand for market research services provided by our TVG business unit. In addition, GAAP and adjusted basis revenue, net in Marketing Services decreased by $2.3 million in 2009, compared to 2008 from the closing of our VIM business unit in 2009.

Gross Profit – Adjusted basis gross profit for 2009 was $24.1 million compared to $14.8 million for 2008. On an adjusted basis, the Company's 2008 gross profit was negatively impacted by $13.3 million from the execution of the product commercialization contract that was mutually terminated in the second quarter of 2009. On a GAAP basis gross profit was $26.3 million for 2009 compared to $4.5 million for 2008. On a GAAP basis, the Company's 2008 gross profit was negatively impacted by $23.6 million from the execution of the product commercialization contract and the loss contract accrual. In addition, on a GAAP basis, 2009 gross profit benefited from the net gain of $2.5 million realized in connection with the mutual termination of the product commercialization contract.


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