Date:5/14/2012

PARSIPPANY, N.J., May 14, 2012 /PRNewswire/ -- PDI, Inc. (Nasdaq: PDII), today reported financial and operational results for the first quarter ended March 31, 2012. Summary financial and operating highlights include:

First quarter 2012 operating loss from continuing operations of $0.2 million improved 84% compared to the first quarter of 2011.

First quarter 2012 adjusted EBITDA was $0.7 million, compared to $0.1 million in the same period of 2011.

Announced new and renewal contracts totaling $16 million in revenues, approximately $13 million of which is expected to be recognized during 2012.

Condensed Summary Statements of Continuing Operations1st Quarter EndedMarch 31,*20122011Revenue, net$
31.7$
44.3Gross profit7.48.2Operating expenses:Compensation expense4.65.3Other SG&A3.04.3Total operating expenses7.69.6Operating loss$
(0.2)$
(1.4)Other expense, net-(0.1)Provision (benefit) for income tax0.1(1.0)Loss from continuing operations$
(0.3)$
(0.4)Diluted loss per share from continuing operations$
(0.02)$
(0.03)  *UnauditedCEO Comments"While first quarter 2012 revenues were below those of the same period in 2011, due primarily to the anticipated expiration of certain contracts, gross profit margins improved from 18% in 2011 to 23% in 2012, and expenses were reduced significantly due to continued cost control measures," stated Nancy Lurker, PDI's chief executive officer. "On the revenue front, we are pleased to note that, during the quarter, we began to see tangible conversion of our pipeline opportunities. This was reflected in our recent announcement of the signing of several new and renewal contracts. Together, these contracts are expected to generate total revenues of $16 million over the life of the contracts, and approximately $13 million in 2012. These business wins cover a range of promotional and communic
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SOURCE PDI, Inc. Copyright©2010 PR Newswire. All rights reserved

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