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Protein Design Labs Beats Third-Quarter Expectations

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Protein Design Labs

(PDLI) - Get PDL BioPharma, Inc. Report

reported a narrower-than-expected third-quarter loss, but saw revenue for the period fall from a year ago.

The Fremont, Calif., company, which develops humanized antibodies to prevent or treat various diseases, posted a loss of $5.1 million, or 13 cents a share, compared with net income of $181,000 in the same period last year. Seven analysts polled by

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expected a third-quarter loss of 16 cents a share.

Revenue for the quarter fell to $9.6 million from $10.6 million last year.