UPDATE 1-PDL BioPharma posts quarterly profit after loss

(Adds revenue details, outlook)

NEW YORK Aug 1 (Reuters) - PDL BioPharma Inc (PDLI.O) reported a higher-than-expected second-quarter profit after a year-ago loss on increased demand for its acute-care high blood pressure medicine and higher royalty revenue.

The biotechnology company posted a net profit of $15.9 million, or 13 cents per share, compared with a net loss of $7.4 million, or 6 cents per share, a year ago.

Excluding items, Fremont, California-based PDL earned 30 cents per share, topping analysts' average expectations by 3 cents, according to Reuters Estimates.

Total revenue for the quarter jumped 32 percent to $138 million, fueled by a 66 percent rise in sales if the intravenous blood pressure medicine Cardene to $40.5 million.

Royalty revenue rose 48 percent to $79.8 million due primarily to growth in royalty-bearing sales reported by Genentech Inc DNA.N, which licenses antibody products from PDL.

Excluding items, the company said it expects 2007 earnings of 50 cents to 58 cents per share and a profit of $60 million to $70 million. Analysts on average are looking for 54 cents per share, according to Reuters Estimates. (Reporting by Bill Berkrot)