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BARR LABORATORIES RELEASES THIRD QUARTER FINANCIAL RESULTS

 POMONA, N.Y., May 13 /PRNewswire/ -- Barr Laboratories, Inc. (AMEX: BRL), today released financial results for the third quarter ended March 31, 1993.
 Net sales in the third fiscal quarter of 1993 were $11,869,000 as compared to $21,803,000 for the comparable quarter last year, a 45.6 percent decrease. Net earnings for the quarter ended March 31, 1993, were $2,346,000 or $.27 per share as compared to a net loss of ($2,360,000) or ($.28) loss per share for the comparable quarter last year.
 Net sales for the nine months ended March 31, 1993, were $45,107,000 as compared to $81,405,000, a 44.6 percent decrease over the comparable period last year. Net earnings for the nine months were $2,522,000 or $.29 per share as compared to a net loss of ($585,000) or ($.07) loss per share for the comparable period last year.
 For the quarter ended March 31, 1993, the company earned and received a partial payment of $10,500,000 from the out-of-court settlement of the dispute involving Imperial Chemical Industries PLC's patent on tamoxifen citrate. For the quarter ending June 30, 1993, the company will earn and receive the remaining $10,500,000 payment.
 Barr Laboratories is a prime manufacturer of a broad range of multi- source pharmaceutical products with manufacturing facilities located in both Northvale, N.J., and Pomona, N.Y.
 BARR LABORATORIES, INC. AND SUBSIDIARIES
 Consolidated Statement of Operations
 (Unaudited; in thousands of dollars except per share amounts)
 Periods ended Three Months Nine Months
 March 31 1993 1992 1993 1992
 Net sales $11,869 $21,803 $45,107 $81,405
 Costs and expenses:
 Cost of sales 9,977 17,613 27,686 55,126
 Distribution 515 911 1,660 2,821
 Marketing and sales 1,442 1,582 4,021 5,377
 Research and development 1,382 2,310 4,037 6,258
 General and administrative 4,577 2,673 12,230 9,422
 Interest expense, net 568 746 1,758 1,993
 Other (income)/exp., net (10,501) (285) (10,488) 1,337
 Earnings/(loss) before
 income taxes 3,909 (3,747) 4,203 (929)
 Income tax provision/
 (benefit) 1,563 (1,387) 1,681 (344)
 Net earnings/(loss) $ 2,346 $(2,360) $ 2,522 $ (585)
 Net earnings per common
 share and common share
 equivalents $0.27 $(0.28) $0.29 $(0.07)
 Weighted average number
 of com. share and com.
 share equivalents 8,632,373 8,351,970 8,627,668 8,326,818
 -0- 5/13/93
 /CONTACT: Harold Cohen, director - public relations of Barr Laboratories, 914-362-1100, ext. 2823/
 (BRL)


CO: Barr Laboratories, Inc. ST: New York IN: MTC SU: ERN

GK-OS -- NY033 -- 8043 05/13/93 11:09 EDT
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Publication:PR Newswire
Date:May 13, 1993
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