PDL BioPharma Q4 Profit Rises - Quick Facts

(RTTNews) - PDL BioPharma Inc. (PDLI) reported that its fourth-quarter net income was $61.1 million, or $0.39 per share, compared to $49.4 million, or $0.34 per share, in the same quarter of 2012. The company said the increase in net income is primarily due to a 27 percent increase in royalty revenues.

On average, five analysts polled by Thomson Reuters expected the company to report profit of $0.43 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the latest fourth quarter increased 18 percent to $110.14 million from $86.05 million in the previous year quarter, while five analysts expected revenue of $115.22 million for the quarter.

On January 29, 2014, PDL's Board of Directors declared regular quarterly dividends of $0.15 per share of common stock, payable on March 12, June 12, September 12 and December 12 of 2014 to all stockholders who own shares of PDL on March 5, June 5, September 5 and December 5 of 2014, the record dates for each of the dividend payments, respectively.