WASHINGTON (dpa-AFX) - PDL BioPharma (PDLI) reported first-quarter net income of $40.1 million, down from $44.5 million last year. Earnings per share was $0.29 compared to $0.25 per share in the year-ago quarter.
Excluding items, non-GAAP net income for the latest quarter was $41.7 million or $0.30 per share. There were no adjustments in the prior-year quarter.
On average, 5 analysts polled by Thomson Reuters expected earnings of $0.26 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues for the quarter was $77.3 million, compared to $83.3 million. Analysts expected revenues of $77.47 million for the quarter.
The company noted that it will provide revenue guidance for the second quarter in early June.
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