PDL BioPharma Inc. Q1 adjusted earnings

(RTTNews) - PDL BioPharma Inc. (PDLI) revealed a profit for first quarter that fell from last year.

The company's profit totaled $1.60 million, or $0.01 per share. This compares with $7.24 million, or $0.04 per share, in last year's first quarter.

Analysts had expected the company to earn $0.06 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 15.2% to $38.52 million from $45.44 million last year.

PDL BioPharma Inc. earnings at a glance:

-Earnings (Q1): $13.38 Mln. vs. $13.21 Mln. last year. -Analysts Estimate: $0.06 -Revenue (Q1): $38.52 Mln vs. $45.44 Mln last year.