CARTER-WALLACE ANNOUNCES OPERATING RESULTS FOR THE FOURTH QUARTER AND FISCAL YEAR ENDED MARCH 31, 1995.NEW YORK--(BUSINESS WIRE)--May 4, 1995--Carter-Wallace, Inc. (NYSE NYSE See: New York Stock Exchange : CAR) today announced operating results for the fourth quarter and fiscal year ended March 31, 1995. -0- SUMMARY OF OPERATING RESULTS THREE MONTHS ENDED March 31, 1995 March 31, 1994 Sales $155,547,000 (a) $175,314,000 Earnings Before One-Time Charges and Taxes 3,035,000 9,428,000 One-Time Charges (5,700,000) (b) - Earnings (Loss) Before Taxes (2,665,000) 9,428,000 Provision for Income Taxes 2,140,000 (c) 2,922,000 Net Earnings (loss) $ (4,805,000) $ 6,506,000 Earnings (Loss) Per Share $(.10) $0.14 Average Shares Outstanding 46,179,000 46,071,000 TWELVE MONTHS ENDED March 31, 1995 March 31, 1994 Sales $663,642,000 $664,789,000 Earnings Before One-Time Charges, Taxes and Accounting Changes 42,310,000 37,382,000 One-Time Charges (129,340,000) (b) - Earnings (Loss) Before Taxes (87,030,000) 37,382,000 Provision (Benefit) for Income Taxes (30,762,000) (c) 10,773,000 Net Earnings (Loss) Before Accounting Changes (56,268,000) 26,609,000 Accounting Changes, Net of Tax - (46,639,000) Net (Loss) $(56,268,000) $(20,030,000) Earnings (Loss) Per Share Before Accounting Changes $(1.22) $0.58 Accounting Changes - $(1.02) (Loss) Per Share $(1.22) $.44 Average Shares Outstanding 46,108,000 45,900,000 a) The lower sales in the quarter ended March 31, 1995 compared with the prior year period were principally due to an absence of sales of Organidin (iodinated glycerol glycerol, glycerin, glycerine, or 1,2,3-propanetriol (prō`pāntrī'ŏl), CH2OHCHOHCH2OH, colorless, odorless, sweet-tasting, syrupy liquid. ), a product that was discontinued dis·con·tin·ue v. dis·con·tin·ued, dis·con·tin·u·ing, dis·con·tin·ues v.tr. 1. To stop doing or providing (something); end or abandon: in June, 1994. Sales of Felbatol were lower in the quarter ended March 31, 1995 compared with the prior year period. b) As previously announced, the Company has incurred one-time write-offs related to its Felbatol and Organidin (iodinated glycerol) lines, as well as charges for restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). of operations and facilities. One-time pre-tax charges incurred in the twelve months ended March 31, 1995 were $129,340,000 or $1.75 per share after tax. Excluding the one-time charges, pre-tax earnings were $42,310,000. This equates to earnings per share of $.53 which is lower than prior year operational earnings of $.58 per share due to a higher effective tax rate in the current year. One-time pre-tax charges incurred in the quarter ended March 31, 1995, principally related to employee termination costs and plant closing costs Closing Costs The numerous expenses (over and above the price of the property) that buyers and sellers normally incur to complete a real estate transaction. Costs incurred include loan origination fee, discount points, appraisal fee, title search, title insurance, survey, taxes, , were $5,700,000 or $.12 per share after tax. Excluding the one-time charges, pre-tax earnings were $3,035,000 or $.02 per share after tax. c) The effective tax rate benefit for the twelve months ended March 31, 1995 was lower than that reported for the nine months ended December 31, 1994 reflecting finalization Writing the table of contents (TOC) on a recordable CD or DVD disc. The finalization process ensures that the disc can be played back on most CD and DVD players. See disc-at-once. of the full year results. This year-end determination resulted in an increase in the provision for income taxes in the quarter ended March 31, 1995. -0- Carter-Wallace, Inc. markets toiletries toi·let·ry n. pl. toi·let·ries An article, such as toothpaste or a hairbrush, used in personal grooming or dressing. toiletries npl → artículos mpl de aseo (= , proprietary drugs, pharmaceuticals, diagnostic specialties and pet products. CONTACT: Robert D. Ferris Ruder Finn Ruder Finn is an United States public relations firm founded in 1948 by David Finn and William Ruder. Ruder Finn is a privately held, family-owned company that employs more than 450 people. , Inc. 301 East 57th St. New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY 10022 (212) 715-1573 |
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