PDI, Inc. (PDII) Reports In-Line Q2 EPS

PDI, Inc. (NASDAQ: PDII) reported Q2 EPS of ($0.46), in-line with the analyst estimate of ($0.46). Revenue for the quarter came in at $34.1 million versus the consensus estimate of $32.62 million.

"Our results in the second quarter demonstrate that our commercialization services business is capitalizing on the momentum built in the first quarter. Our Commercial Services team delivered as we signed multiple new contracts with a total value of approximately $45 million. These contracts were signed with healthcare clients in a variety of fields including pharmaceuticals and medical devices. With these wins along with our strong performance in the first half of the year, the RFP pipeline remains active," commented Nancy Lurker, president and chief executive officer of PDI, Inc. "At the same time we are executing our molecular diagnostic product strategy. We saw combined test volumes for PancraGen and ThyGenX increase 19% sequentially. We also recently received additional, favorable coverage policies from three managed care providers, one in the top ten, and gained coverage from Aetna in the second quarter, bringing our total covered lives for all tests combined to over 100 million patients.

"We continue to see strong clinical data supporting our three commercialized molecular diagnostics tests with published results in several well regarded, peer reviewed journals," Ms. Lurker continued. "Additionally, we remain on track to introduce our fourth test this year with our multistage launch of BarreGen for Barrett's Esophagus, our second gastrointestinal diagnostic. We are expecting to initiate the introduction to a group of select doctors during the third quarter, with a full commercial launch of BarreGen in 2016."

For earnings history and earnings-related data on PDI, Inc. (PDII) click here.

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