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

  • Two key new business wins with Top 10 pharmaceutical companies in December 2009 and January 2010 expected to generate approximately $18 million in revenue in 2010.
  • Major contract renewal with a Top 5 pharmaceutical company expected to generate approximately $33 million in revenue in 2010.
  • Relocation of corporate headquarters to Parsippany, NJ to reduce ongoing costs and increase access to pharmaceutical industry talent pool.

    
    
    
    
    Summary Consolidated Statements of Operations – GAAP Basis:
    
                                              4th Quarter                  
                                                 Ended        Year Ended   
      GAAP Basis                             December 31,*   December 31,* 
                                             -------------   ------------- 
      $'s in millions except EPS              2009    2008    2009    2008 
                                              ----    ----    ----    ---- 
                                                                           
      Revenue                                $24.0   $25.4   $84.9  $112.5 
                                                                           
      Gross Profit                            $7.6   $(8.2)  $26.3    $4.5 
                                                                           
      Operating Expenses                                                   
         Compensation expense                 $4.7    $5.1   $22.3   $22.8 
         Other SG&A                           $4.8    $3.9   $17.5   $16.8 
         Executive severance                    $-      $-    $0.2    $1.2 
       
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SOURCE PDI, Inc.
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