PARSIPPANY, N.J., July 25, 2012 /PRNewswire/ -- PDI, Inc. (Nasdaq: PDII) today announced the signing of several new and extended contracts, including two new wins from Top 10 global pharmaceutical companies. Together the contracts are expected to generate total revenues of $29 million over the lives of the contracts. $12 - $13 million of revenue is expected over the second half of 2012 with the remainder in the first half of 2013.
The business wins are for a range of contract sales and service agreements under which PDI will variously provide promotional and support services through its standing established relationship team, dedicated sales teams and training services. More than 60% of the total value of these contracts is new business.
"Even after factoring in these new wins our pipeline of potential business remains strong," said Nancy Lurker, Chief Executive Officer of PDI, Inc. "We are extremely encouraged by these new wins and extensions but need additional new business to achieve our revenue and profit goals for 2012."
About PDI, Inc.
PDI is a leading health care commercialization company providing superior insight-driven, integrated multi-channel message delivery to established and emerging health care companies. The company is dedicated to enhancing engagement with health care practitioners and optimizing commercial investments for its clients by providing strategic flexibility, full product commercialization services, innovative multi-channel promotional solutions, and sales and marketing expertise. For more information, please visit the company's website at http://www.pdi-inc.com.
This press release contains forward-looking statements regarding future events and financial performance. These statements are based on current expectations and assumptions involving judgments about, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond PDI's control. These statements also involve known and unknown risks, uncertainties and other factors that may cause PDI's actual results to be materially different from those expressed or implied by any forward-looking statement.
For example, with respect to statements regarding projections of future revenues, growth and profitability, actual results may differ materially from those set forth in this release based on the loss, early termination or significant reduction of any of our existing service contracts, the failure to meet performance goals in PDI's incentive-based arrangements with customers or the inability to secure additional business. Additionally, all forward-looking statements are subject to the risk factors detailed from time to time in PDI's periodic filings with the Securities and Exchange Commission, including without limitation, PDI's Annual Report on Form 10-K for the year ended December 31, 2011, and PDI's subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K. Because of these and other risks, uncertainties and assumptions, undue reliance should not be placed on these forward-looking statements. In addition, these statements speak only as of the date of this press release and, except as may be required by law, PDI undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
SOURCE PDI, Inc.