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PDI Reports 2013 First Quarter Financial Results
Date:5/13/2013

PARSIPPANY, N.J., May 13, 2013 /PRNewswire/ -- PDI, Inc. (Nasdaq: PDII), today reported financial and operational results for the first quarter ended March 31, 2013. Summary financial and operating highlights include:

  • First quarter 2013 revenue increase of 36% to $42.9 million compared to the same period last year.
  • Operating income of $2.3 million for the first quarter of 2013, a $2.5 million improvement compared to a loss of $0.2 million in the first quarter of 2012.
  • Earnings per share of $0.14 for the first quarter of 2013 compared to a loss of $0.02 per share for the same period in 2012.
  • Adjusted EBITDA (a non-GAAP financial measure) increase of over 300%, to $2.9 million compared to $0.7 million in the same period of 2012.
  • Signing of $17 million multi-year sales contract for which PDI will provide a dedicated team to promote a CNS therapeutic product to neurologists and pain specialists.
  •  Condensed Summary Statements of Continuing Operations($'s in millions, expect per share data)1st Quarter EndedMarch 31,*20132012Revenue, net$
    42.9$
    31.7Gross profit8.57.4Operating expenses:Compensation expense4.24.6Other SG&A2.13.0Total operating expenses6.27.6Operating income (loss)$
    2.3$
    (0.2)Provision for income tax0.10.1Income (loss) from continuing operations$
    2.2$
    (0.3)Diluted income (loss) per share from continuing operations$
    .14$
    (0.02)  *UnauditedCEO CommentsCommenting on the results, Nancy Lurker, chief executive officer of PDI, Inc., noted, "Revenues from contracts signed in 2012 have begun to positively impact our top line, resulting in revenue for the first quarter of 2013 increasing 36% to $42.9 million compared to the same period last year. Gross profit increased $1.1 million to $8.5 million even though, as anticipated, our gross profit percentages began to trend lower due to increasin
    '/>"/>

    SOURCE PDI, Inc.
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