PDL BioPharma Q1 Profit Rises - Quick Facts

(RTTNews) - PDL BioPharma, Inc. (PDLI) reported first quarter net income of $84.5 million, or $0.50 per share compared to $72.9 million, or $0.44 per share. The company said the increase in net income in the first quarter of 2015 over the same period in 2014 is primarily due to the increase in royalty revenues from the Queen et al. patents.

Analysts polled by Thomson Reuters expected the company to report profit per share of $0.52 for the quarter. Analysts' estimates typically exclude special items.

Total revenues increased nine percent to $149.7 million from $136.8 million in the first quarter of 2014. Revenues for the quarter ended March 31, 2015 included $127.8 million in royalty and license payments from PDL's licensees to the Queen et al. patents. Analysts expected revenue of $140.75 million for the quarter.