PDL BioPharma Loss Widens

Revenue more than triples.
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Biopharmaceutical company

PDL BioPharma

(PDLI) - Get Report

said its fourth-quarter loss widened, hit by one-time charges.

The company lost $23.1 million, or 22 cents a share, in the quarter, compared with a loss of $14.6 million, or 15 cents a share, a year ago. Adjusted for items, earnings were 6 cents a share. Analysts surveyed by Thomson Financial were expecting the company to earn a penny a share.

Fourth-quarter revenue rose 266.4% from a year ago to $83.7 million. Analysts were expecting revenue of $88.5 million.

In fiscal 2006, the company expects to post earnings before interest, taxes, depreciation and amortization of $44 million to $54 million, or 38 cents a share to 47 cents a share, on revenue of $405 million to $435 million. Analysts were forecasting revenue of $386.2 million.

"Royalty revenues from our partners' successful breakthrough antibody products continued to grow, and our new alliances with both Biogen Idec and Roche are bringing important expertise and resources to further propel our clinical-stage pipeline," the company said.

Royalty revenue in the fourth quarter rose 67.4% to $33.4 million from a year ago.

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