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

 

  • GAAP and adjusted basis 2009 operating expenses were lower in part due to the Company's ongoing cost reduction initiatives, net lower compensation related expenses and lower executive severance compared to 2008.  Somewhat offsetting these amounts were professional fees incurred throughout the year in connection with the development of new service offerings, continued strengthening of existing offerings and upgrading of internal systems, process and procedures.

Operating Loss - The adjusted basis operating loss for 2009 was $(15.9) million compared to $(26.0) million for the same period in 2008.  On a GAAP basis the operating loss for 2009 was $(40.6) million compared to a $(36.4) million loss for 2008. The operating losses on both a GAAP and adjusted basis results from the net effect of the revenue, gross profit and operating expense items discussed above.

Net Loss and Net Loss Per Share - The adjusted basis net loss for 2009 was $(15.9) million, or $(1.12) per share, com
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SOURCE PDI, Inc.
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