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PDI Reports 2011 Third Quarter Financial Results
Date:11/9/2011

. Treasury money market funds, and the company had no commercial debt.

Outlook – 2011 and 2012Based on the company’s view of current and expected market conditions and current assumptions, including: 1) sustained long-term growth of the CSO industry, 2) PDI’s ability to continue to win an increasing amount of new business and/or expand its existing business, and 3) tight control of ongoing expenses while investing in the expansion of PDI’s capabilities, among others, management is providing the following financial guidance:

Full year 2011: The company expects annual revenues for 2011 to be in the range of $164 to  $166 million. Cash flow from operations should be positive and Adjusted EBITDA should be in the range of $1 to $2 million.

Full year 2012: The company expects annual revenues for 2012 to increase by about 20% over annual revenues for 2011, resulting in improved gross profit margins and reduced SG&A margins as a percentage of revenue compared to full year 2011. The company expects to achieve profitability at the operating income level, with positive cash flow from operations and Adjusted EBITDA of approximately $9 million.

Non-GAAP Financial MeasuresIn addition to the United States generally accepted accounting principles, or GAAP, results provided throughout this document, PDI has provided certain non-GAAP financial measures to help evaluate the results of its performance. These non-GAAP financial measures are related to the impact of the Group DCA operating results. The company believes that these non-GAAP financial measures, when presented in conjunction with comparable GAAP financial measures, are useful to both management and investors in analyzing the company’s ongoing business and operating performance. The company believes that providing the non-GAAP information to investors, in addition to the GAAP presentation, allows investors to view the company’s financial resu
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SOURCE PDI, Inc.
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