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

  • A net gain of $2.5 million (reflected in full year 2009 results) related to the mutual termination of the product commercialization contract entered into in 2008. The gain arises from the reversal of loss contract reserves accrued for in 2008.

  • A reduction of revenue of $1.7 million in the fourth quarter of 2009 and $5.1 million for the full year 2009 as a result of credits issued in connection with the mutual termination of the product commercialization contract entered into in 2008.

  • A total tax benefit realized of $7.0 million (approximately 50% cash) as a result of the Worker, Homeownership, and Business Assistance Act passed in November 2009 (reflected in Q4 and full year 2009 results).

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SOURCE PDI, Inc.
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