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ROBERTS PHARMACEUTICAL CORPORATION REPORTS RECORD SALES AND PROFITS

 EATONTOWN, N.J., Aug. 16 /PRNewswire/ -- Roberts Pharmaceutical Corporation (NASDAQ: RPCX) today reported a net profit for the second consecutive quarter. Profit for the quarter amounted to a record high of $879,500 on record revenue of $20.7 million. This compares with a net loss for the second quarter of 1992 of $3.6 million on revenue of $7.1 million, a profit improvement of $4.5 million. Earnings for the second quarter amounted to $.06 per share compared to a net loss of $.25 per share for the comparable quarter in 1992, an improvement of $.31 per share.
 Roberts reported total revenues of $20.7 million for the quarter ended June 30, 1993, an increase of $13.6 million or 192 percent over total revenues of $7.1 million for the same quarter of the prior year. Product sales accounted for $13.0 million compared to $5.7 million in 1992. Sales of prescription products represented 90 percent of total product sales in 1993. For the six month period ended June 30, 1993, revenues totalled $37.6 million representing an increase of $25.6 million or 213 percent over the prior year period revenues of $12.0 million. Sales of prescription products amounted to $21.9 million, an increase of $13.7 million over the same six month period of the prior year.
 Roberts reported a net profit for the six months ended June 30, 1993 of $1.6 million compared to a net loss of $4.7 million for the comparable period; a profit improvement of $6.3 million. Roberts current six months net profit per share was $.11 per share, a $.48 increase compared to the net loss per share of $.37 in the prior six month period.
 In line with the overall growth in company operations, the company's total operating expenses of $19.4 million for the quarter ended June 30, 1993 were $8.1 million above the $11.3 million incurred during the comparable 1992 period. It was noted that second quarter R&D, marketing and administrative expenses amounted to 48 percent of revenue; a substantial decrease compared with the 103 percent of revenue reported in the second quarter of 1992. Non-cash charges related to the amortization of intangible assets from recent acquisitions amounted to approximately $1 million.
 Commenting on the results, Dr. Robert A. Vukovich, chairman and CEO, said, "The company's second quarter performance is the result of Roberts on-going effort to enhance sales performance and market penetration of all of its products. This improvement has been achieved while we continue to invest in marketing programs, administrative support services, and development efforts required to advance our late stage products through the regulatory approval process."
 A review of the company's financial results was summarized as follows:
 -- Second quarter revenue of $20.7 million was the highest quarterly revenue in the company's history. Revenue for the second quarter was $3.8 million or 22 percent greater than the first quarter of 1993. Six month 1993 revenue of $37.6 million was greater than the total revenue reported by the Company for the entire year of 1992.
 -- Net income for the second quarter was $159,000 greater than the first quarter net income. The 1993 six month net income of $1.6 million resulted in an after-tax return on sales of 4.3 percent.
 -- Total assets for the company were $193.1 million at the end of June, 1993 an increase of $7.7 million since year end 1992. During the same period, stockholders' equity increased by $1.7 million.
 Roberts Pharmaceutical Corporation is an international pharmaceutical company focusing on the acquisition and development of late-stage development products and the acquisition of currently marketed prescription and nonprescription products. Roberts products are currently marketed in seven countries with operating subsidiary companies in the U.S., Canada, and the United Kingdom. Roberts has six drugs in late stage clinical development and currently markets products primarily in six major therapeutic areas: cardiovascular, gynecology/endocrinology, urology, respiratory, oncology and gastroenterology.
 ROBERTS PHARMACEUTICAL CORPORATION
 Summary Consolidated Financial Information
 For the second quarter ended June 30, 1993
 (Unaudited, all amounts in thousands except per share data)
 OPERATING STATEMENT DATA
 Three Months Six Months
 Periods ended June 30 1993 1992 1993 1992
 Revenues $20,660 $7,082 $37,564 $12,030
 Operating expenses:
 Cost of sales 3,892 2,166 7,747 4,031
 Clinical studies 5,676 1,874 9,010 2,160
 Research and development 2,038 1,976 3,936 3,235
 Marketing and
 administration 7,804 5,283 14,340 7,798
 Total 19,410 11,299 35,033 17,224
 Net income (loss) $ 880 $(3,595) $ 1,600 $(4,689)
 Income (loss) per
 common share $ .06 $ (.25) $ .11 $ (.37)
 Weighted average
 common shares
 outstanding 14,699 14,569 14,699 12,706
 BALANCE SHEET DATA
 6/30/93 12/31/92
 Assets
 Cash and marketable securities $ 36,994 $ 43,901
 Other current assets 24,263 14,439
 Other assets 131,872 127,083
 Total assets $193,129 $185,423
 Liabilities & shareholders' equity:
 Current liabilities $ 39,706 $ 33,980
 Long-term debt 30,164 29,850
 Stockholders' equity 123,259 121,593
 Total liabilities & shareholders'
 equity $193,129 $185,423
 -0- 8/16/93
 /Contact: Anthony P. Maris of Roberts Pharmaceutical, 908-389-1182/
 (RPCX)


CO: Roberts Pharmaceutical Corporation ST: New Jersey IN: MTC SU: ERN

WB -- NY040 -- 2980 08/16/93 10:26 EDT
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Date:Aug 16, 1993
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