PDL BioPharma Q1 Profit Rises - Quick Facts

(RTTNews) - PDL BioPharma Inc. (PDLI) reported that its first-quarter net income increased to $72.9 million, or $0.44 per share, from $53.5 million, or $0.36 per share, previous year. The company said the increase in net income is primarily due to the increase in royalty revenues.

On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $0.45 for the quarter. Analysts' estimates typically exclude special items.

Total revenues increased 52 percent to $139.7 million from $91.8 million in the first quarter of 2013. Analysts expected revenue of $130.93 million for the quarter.

The company said it will provide second quarter revenue guidance in June 2014.