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CARTER-WALLACE ANNOUNCES OPERATING RESULTS FOR THE FIRST QUARTER ENDED JUNE 30, 1992

 CARTER-WALLACE ANNOUNCES OPERATING RESULTS
 FOR THE FIRST QUARTER ENDED JUNE 30, 1992
 NEW YORK, July 27 /PRNewswire/ -- Carter-Wallace, Inc. (NYSE: CAR) today announced operating results for the first quarter ended June 30, 1992.
 CARTER-WALLACE, INC.
 Summary of Operating Results
 Three months ended June 30 1992 1991
 Sales $157,184,000 $170,710,000
 Earnings before taxes 23,222,000(A) 23,108,000
 Income taxes 7,199,000 7,395,000
 Net earnings 16,023,000(A) 15,713,000
 Earnings per share $.35(A,B) $.34(B)
 Average shares outstanding 45,792,000(B) 45,780,000(B)
 (A) -- Included in earnings in the three months ended June 30, 1992, is income of $10 million before taxes, or $6 million after taxes (13 cents per share) related to a licensing agreement with Schering- Plough Corporation granting Schering-Plough exclusive marketing rights in all markets except the United States and its territories and possessions, Canada and Mexico, to Felbatol.
 (B) -- Earnings per share average shares outstanding for the three months ended June 30, 1992 and 1991, reflect 3-for-1 stock split effective April 27, 1992.
 Carter-Wallace, Inc. markets toiletries, proprietary drugs, pharmaceuticals, diagnostic specialties and pet products.
 -0- 7/27/92
 /CONTACT: Ralph Levine of Carter-Wallace, 212-339-5000/
 (CAR) CO: Carter-Wallace Inc. ST: New York IN: MTC SU: ERN


AH-CK -- NY072 -- 3525 07/27/92 12:35 EDT
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Date:Jul 27, 1992
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