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PDI Reduces 2005 EPS Estimates to Between $0.40 and $0.50 from $1.35 to $1.45.

Publication: PR Newswire
Publication Date: 02-MAY-05 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
PDI Board Approves Common Stock Repurchase Program

SADDLE RIVER, N.J., May 2 /PRNewswire-FirstCall/ -- PDI, Inc. today announced that it expects its financial results for 2005 to be lower than previous Company estimates. The company expects to earn between $0.40 and $0.50 per diluted share in 2005, versus previous estimates of $1.35 and $1.45. The Company expects revenues in 2005 to be between $310 million and $320 million versus the previous estimate of $380 million and $390 million.

The Company cited the following primary reasons for the change: * anticipated new business wins have not materialized, * the unexpected cancellation of an existing Novartis contract, * concerns regarding continuation of one contract for 100 representatives, * projections for lower overall revenue and slightly lower gross margins in both segments, and * higher than previously anticipated SG&A resulting from our decision to add key resources to our business, and certain...

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