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FOREST LABORATORIES REPORTS RECORD FISCAL FOURTH QUARTER RESULTS

 FOREST LABORATORIES REPORTS RECORD FISCAL FOURTH QUARTER RESULTS
 NEW YORK, May 5 /PRNewswire/ -- Forest Laboratories, Inc. (AMEX: FRX), an international pharmaceutical manufacturer and marketer, today reported record revenues and earnings for its fourth fiscal quarter and for the year ended March 31, 1992.
 Net income in the current quarter increased 28 percent to $13,841,000 from the $10,806,000 reported in the prior year's fourth quarter. Net income per share equaled $.31 in the quarter as compared to $.25 in last year's fourth fiscal quarter.
 For the quarter, net revenues increased 20 percent to $65,120,000 from $54,048,000 reported in the prior year's quarter.
 For the fiscal year ended March 31, 1992, net income increased 31 percent to $49,569,000 from $37,869,000 in the prior year. Primary and fully diluted net income per share equaled $1.13 versus $.90 primary and $.87 fully diluted net income per share in the prior year.
 Net revenues for the 1992 fiscal year increased 35 percent to $248,437,000 from $184,224,000.
 Howard Solomon, president of Forest, said, "The increase in sales and earnings is a result of the continued strong growth of our branded promoted products and our specialty controlled release generic products. New prescription growth for AeroBid, our metered dose inhaler for the treatment of asthma, has continued to accelerate and we are also benefiting from excellent prescription growth for Levothroid, our thyroid replacement product which we acquired and began to promote this past year. Our expanded salesforce continues to positively impact our sales trends and we look forward to continuing growth in our revenues and earnings in the year ahead."
 FOREST LABORATORIES, INC. AND SUBSIDIARIES
 Condensed Consolidated Statements of Income
 (In thousands, except per share amounts)
 Three Months Twelve Months
 Ended March 31 Ended March 31
 1992 1991 1992 1991
 Net revenues $65,120 $54,048 $248,437 $184,224
 Income before income taxes 21,296 15,889 77,505 54,867
 Income taxes 7,455 5,083 27,936 16,998
 Net income 13,841 10,806 49,569 37,869
 Net income per common and
 common equivalent share:
 Primary $.31 $.25 $1.13 $.90
 Fully diluted .31 .25 1.13 .87
 Weighted average number of
 shares outstanding:
 Primary 44,496 42,980 43,992 41,955
 Fully diluted 44,496 44,075 44,044 43,504
 -0- 5/5/92
 /CONTACT: Kenneth E. Goodman, vice president-finance of Forest Labs, 212-421-7850/
 (FRX) CO: Forest Laboratories Inc. ST: New York IN: MTC SU: ERN


KD -- NY025 -- 6419 05/05/92 09:43 EDT
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Publication:PR Newswire
Date:May 5, 1992
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