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

  • GAAP and adjusted basis gross profit for the Sales Services segment decreased to $15.7 million for 2009 from $18.4 million for 2008. This decline is primarily the result of lower revenue for the 2009 compared to 2008.  
  • GAAP and adjusted basis gross profit in the Marketing Services segment decreased to $8.0 million for 2009 from $9.8 million for 2008. The decrease was primarily attributable to lower overall revenue. The gross profit percentage increased in Marketing Services due primarily to lower costs and favorable business and services mix.

Total Operating Expenses – Adjusted basis total operating expenses for 2009 were $40.0 million compared to $40.8 million for 2008.  On a GAAP basis total operating expenses were $66.9 million in 2009 compared to $40.9 in 2008.  Total operating expenses for 2009 are higher on a GAAP basis by $26.0 million due to the inclusion of an asset impairment charge of $18.1 million related to the carrying value of our Pharmakon business unit goodwill and intangibles and $8.7 million of facilities realignment charges related to the downsizing of space at our former Company headquarters and TVG business unit and the relocation of the Company's corporate headquarters.  
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SOURCE PDI, Inc.
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