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

 In 2009:

  • A non-cash asset impairment charge of $18.1 million (reflected in Q4 and full year 2009 results) related to the carrying value of our Pharmakon business unit goodwill and intangibles. This charge is the result of the Company's annual assessment of goodwill and an indication of impairment of our intangibles which arose in the fourth quarter of 2009.  The most recent assessment was heavily influenced by the recent performance of Pharmakon, adverse industry dynamics, the general adverse economic environment and reduced valuations of comparable companies.

  • Facilities realignment charges of $5.7 million in the fourth quarter of 2009 and $8.7 million for the full year 2009, related to the downsizing of space at our former Company headquarters and TVG business unit and the fourth quarter relocation of Company's corporate headquarters to Parsippany, NJ.


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SOURCE PDI, Inc.
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