PDL is focused on maximizing the value ofour antibody humanization patents and related assets.PDL receives royaltieson sales of a number of humanized antibody products marketed today and alsomay receive royalty payments on additional humanized antibody productslaunched before patent expiry in late 2014. This press release and furtherinformation about PDL BioPharma, Inc. can be found at Forward-looking StatementsThis press release contains forward-looking statements, including regardingPDL's expectations with respect to its 2009 royalty revenues, expenses, netincome and cash provided by operating activities. Each of these forward-looking statements involves risks and uncertainties.Actual results may differ materially from those, express or implied, in theseforward-looking statements.
Factors that may cause differences between currentexpectations and actual results include, but are not limited to, thefollowing: --The expected rate of growth in royalty-bearing product sales by PDL'sexisting licensees;--The relative mix of royalty-bearing products manufactured and soldoutside the U.S. All forward-looking statements in this press release arequalified in their entirety by this cautionary statement. PDL BIOPHARMA, INC.CONDENSED CONSOLIDATED BALANCE SHEET DATA(in thousands) (unaudited) March 31,December 31,2009 2008Cash, cash equivalents, short-term investments and restricted cash$193,192$147,527Total assets$219,065$191,142Total stockholders' deficit $(422,297)$(352,569) PDL BIOPHARMA, INC.CONDENSED CONSOLIDATED STATEMENT OF CASH FLOW DATA(in thousands) (unaudited) Three Months EndedMarch 31, 20092008Net income (loss)$37,457$(61,875)Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities (3,596) 33,769Changes in assets and liabilities (6,148) (1,225)Net cash provided by (used in) operating activities$27,713$(29,331) PDL BIOPHARMA, INC. WASHINGTON--(Business Wire)--The Magazine Group was honored by the Society of National AssociationPublications (SNAP) with eight Excel Awards for its exemplary work in design andeditorial in association publishing. The Magazine Group is one of 181 winnersselected from nearly 1,000 entries for the 29th annual SNAP Excel Awards.Winners were chosen for taking bold chances in editorial, design, advertisingand marketing, online publishing, and electronic newsletter categories. About The Magazine GroupThe Magazine Group is the quality leader in custom media and provides servicesto more than 50 corporations, associations and nonprofits.
Its clients includecorporations such as WebMD, Hilton and CDW; associations such as ConsumerElectronics Association and National Association of Real Estate InvestmentTrusts; health organizations such as American Diabetes Association and LupusFoundation of America; educational organizations such as National Association ofIndependent Schools and EDUCAUSE; and scholarly institutions such as theBrookings Institution and Aspen Institute. TMG Online Video, a turnkey videocontent service, currently works with ASAE and the Consumer ElectronicsAssociation. TMG Online Video offers turnkey customized video production anddistribution services The firm has won nearly 600 awards for its work. About SNAP: SNAP is the one nonprofit, professional society serving the needs ofassociation publishers and communications professionals. Areas of expertiseinclude fostering effective relationships among publishers, communicationsprofessionals, and industry providers; developing and maintaining high editorialand advertising standards through our Excel Awards and Publications ReviewProgram; providing members with the latest industry movements through bi-annualmeetings, Lunch & Learn Seminars, the SNAP listserve, and AssociationPublishing, our bimonthly magazine; and connecting professionals with careeropportunities in association publishing through our Career Center.
The Magazine GroupKate Ottenberg, Copyright Business Wire 2009. SCOTTSDALE, Ariz.--(Business Wire)--RSC Holdings Inc (NYSE:RRR):* Rental revenues $287 million, down 23% vs. 1Q08* DEPS a loss of $0.13, down from DEPS of $0.22 in 1Q08* Adjusted EBITDA $108 million, or 30.6% of total revenues* Free cash flow $112 million, $154 million improvement over 1Q08* FY09 free cash flow forecast increased to $340 - $370 millionRSC Holdings Inc. (NYSE:RRR), one of the largest equipment rental providers inNorth America, today announced results for the first quarter ended March 31,2009.
Erik Olsson, President and Chief Executive Officer, stated: "We delivered animpressive $112 million of free cash flow in the first quarter of 2009, clearlydemonstrating the counter-cyclicality of our business model. In a difficulteconomic environment, our focus remains on maximizing cash flow generation. Wenow expect to deliver free cash flow of $340 - $370 million for the full year,which is $20 million above our previous estimate." First Quarter 2009 ResultsFirst quarter rental revenues decreased 22.8% to $287 million from $372 millionin the year-ago quarter and accounted for 82% of total revenues. Total revenueswere $351 million, down 16.8% from $422 million reported in the year-agoquarter. Rental volume, including the impact of currency, declined 18.7% from the prioryear`s first quarter following a very sharp drop in non-residential constructionbusiness levels, as well as lower industrial activity.