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AMERICAN HOME PRODUCTS REPORTS RECORD SALES AND EARNINGS FOR THE SECOND QUARTER AND FIRST HALF OF 1992

 AMERICAN HOME PRODUCTS REPORTS RECORD SALES AND EARNINGS FOR
 THE SECOND QUARTER AND FIRST HALF OF 1992
 NEW YORK, July 15 /PRNewswire/ -- American Home Products Corporation (NYSE: AHP) today reported record sales and earnings for the second quarter and first six months of 1992. Net sales were $1,756,234,000 for the 1992 second quarter, 8 percent above year ago levels. Net sales for the 1992 first half were $3,754,697,000, 11 percent higher than results in 1991.
 Net income increased 12 percent in the 1992 second quarter to $296,106,000, while net income of $702,375,000 for the 1992 first half was 14 percent above year-ago levels. Net income per share increased 12 percent in the second quarter from $.84 to $.94 and 14 percent in the first half, from $1.96 to $2.23.
 John R. Stafford, chairman and chief executive officer, said, "Results for the second quarter and first half of 1992 reflect strong performances by the company's worldwide pharmaceutical businesses. U.S. pharmaceutical sales increased 12 percent for the second quarter and 16 percent for the first half of 1992, led by the established female healthcare category, including the new product Norplant, for contraception, which was introduced in February 1991. Lodine, for osteoarthritis, which was introduced in May 1991, was also a principal contributor to sales growth in 1992. International pharmaceutical sales increased 12 percent for the second quarter and 11 percent for the first half of 1992, principally from increased sales of infant nutritional and female health care products."
 Stafford also said, "Consumer health care sales increases of 7 percent worldwide for the 1992 second quarter and 14 percent for the first half included cough/cold product sales growth in the United States in the first quarter of 1992 due to a severe and prolonged cold and flu season. This growth slowed in the second quarter as retailers adjusted inventory levels."
 Net sales of health care products increased 10 percent worldwide in the 1992 second quarter and 13 percent in the first half. The following table illustrates results within this segment:
 AMERICAN HOME PRODUCTS CORPORATION
 (Dollars in thousands)
 Periods ended Three Months Six Months
 Pct. Incr. Pct. Incr.
 6/30/92 from 1991 6/30/92 from 1991
 Net sales:
 Pharmaceuticals $1,040,920 +12 $2,203,778 +14
 Consumer health care 314,762 +7 753,549 +14
 Medical supplies and
 diagnostic products 195,904 +2 393,671 +2
 Total 1,551,586 +10 $3,350,998 +13
 Sales of food products were essentially flat in the second quarter and declined by 1 percent for the 1992 first half.
 Comparative Results
 (In thousands, except per-share amounts)
 Periods ended Three Months Six Months
 June 30 1992 1991 1992 1991
 Net sales $1,756,234 $1,619,521 $3,754,697 $3,383,845
 Income before taxes 379,604 344,489 900,612 802,270
 Federal and foreign
 taxes on income 83,498 79,245 198,237 184,535
 Net income 296,106 265,244 702,375 617,735
 Net income per share $0.94 $0.84 $2.23 $1.96
 Avg. no. of shares(A) 314,171 315,868 315,019 315,529
 (A) -- Average number of common shares outstanding during each period assuming full conversion of preferred stock.
 -0- 7/15/92
 /CONTACT: John R. Considine, 212-878-6429, or (investors) John L. Skule, 212-878-5015, both of American Home Products/
 (AHP) CO: American Home Products Corp. ST: New York IN: HEA SU: ERN


CK -- NY027 -- 9457 07/15/92 10:34 EDT
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Publication:PR Newswire
Date:Jul 15, 1992
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