WASHINGTON (dpa-AFX) - PDL BioPharma Inc. (PDLI) announced Monday its fourth-quarter revenues guidance, with its estimate of approximately $72 million lower than the prior-year result of $76 million and also below analysts' consensus expectation of $82.46 million. The company based the estimate on royalties from Genentech products, among which Avastin saw third-quarter sales decline 11 percent from last year.
For the full fiscal year, revenues are anticipated to rise to $361 million from $345 million a year ago. The Street currently anticipates $371.79 million in fiscal 2011 revenues.
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