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PDL BioPharma: 1Q Earnings Snapshot

INCLINE VILLAGE, Nev. (AP) _ PDL BioPharma Inc. (PDLI) on Wednesday reported first-quarter profit of $1.6 million.

The Incline Village, Nevada-based company said it had net income of 1 cent per share. Earnings, adjusted for one-time gains and costs, were 8 cents per share.

The biotechnology company posted revenue of $38.5 million in the period.

In the final minutes of trading on Wednesday, the company's shares hit $3.10. A year ago, they were trading at $2.27.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PDLI at https://www.zacks.com/ap/PDLI