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PDI Reports 2013 Second Quarter Financial Results
Date:8/5/2013

PARSIPPANY, N.J., Aug. 5, 2013 /PRNewswire/ -- PDI, Inc. (Nasdaq: PDII), today reported financial and operational results for the second quarter ended June 30, 2013. Summary financial and operating highlights include:

  • Revenue increases of 34% to $37.2 million for the second quarter of 2013 and 35% to $80.2 million for the six months of 2013 compared to the same periods last year.
  • Operating loss of $(0.8) million for the second quarter of 2013 and an operating profit of $1.4 million for the six months of 2013.
  • Adjusted EBITDA (a non-GAAP financial measure) of $0.2 million for the 2013 second quarter and $3.1 million for the six months of 2013.
  • Signing of several new, multi-year sales contracts during the second quarter, totaling approximately $13.0 million, approximately $5.0 million of which is expected to be recorded in 2013.
  • Condensed Summary Statements of Continuing Operations

    ($'s in millions, expect per share data)

    2nd Quarter EndedSix Months EndedJune 30,*June 30,*2013201220132012Revenue, net$ 37.2$ 27.8$ 80.2$ 59.5Gross profit6.86.615.313.9Operating expenses:Compensation expense4.94.19.18.7Other SG&A2.82.84.85.8Total operating expenses7.76.913.914.5Operating (loss) income$ (0.8)$ (0.3)$ 1.4$ (0.5)Provision for income tax0.10.10.10.1(Loss) income from continuing operations$ (0.9)$ (0.4)$ 1.2$ (0.7)Diluted (loss) income per share from continuing operations$(0.06)$(0.03)$ 0.08$(0.05)*UnauditedCEO CommentsCommenting on the results, Nancy Lurker, chief executive officer of PDI, Inc., noted, "Revenues from contracts signed in the second half of 2012 and the first half of 2013 positively impacted our top line, resulting in revenue for the second quarter of 2013 increasing 34% to $37.2 million compared to the
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    SOURCE PDI, Inc.
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