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PDL BioPharma posts 4Q profit

INCLINE VILLAGE, Nev. (AP) _ PDL BioPharma Inc. (PDLI) on Thursday reported fourth-quarter net income of $22.3 million, after reporting a loss in the same period a year earlier.

The Incline Village, Nevada-based company said it had net income of 15 cents per share. Earnings, adjusted for one-time gains and costs, were 17 cents per share.

The biotechnology company posted revenue of $68 million in the period.

For the year, the company reported profit of $110.7 million, or 71 cents per share. Revenue was reported as $320.1 million.

In the final minutes of trading on Thursday, the company's shares hit $2.56. A year ago, they were trading at $2.14.

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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