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

pared to a net loss of $(24.0) million, or $(1.69) per share, for 2008. On a GAAP basis the net loss was $(33.6) million, or $(2.36) per share in 2009, compared to a net loss of $(34.5) million, or $(2.42) per share in 2008. The net loss in 2009 on a GAAP basis was reduced by $7.0 million from tax benefits realized as a result of the Worker, Homeownership, and Business Assistance Act passed in November 2009.

Liquidity and Cash Flow – On a GAAP and adjusted basis, cash and cash equivalents as of December 31, 2009 were $72.5 million, which is $1.9 million higher than September 30, 2009 and $17.6 million lower than December 31, 2008.  

  • The decline in cash for the full year is primarily the result of the net loss incurred in 2009 and the cash obligations of the product commercialization contract that was mutually terminated in April 2009.  At December 31, 2009, the Company had no further obligations under this mutually terminated arrangement.
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