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WARNER-LAMBERT REPORTS SALES AND EARNINGS; 15 PERCENT EPS GAIN FOR 1992

 MORRIS PLAINS, N.J., Jan. 26 /PRNewswire/ -- Warner-Lambert Company (NYSE: WLA) today reported that sales for the three months ended December 31, 1992, were a record for any quarter. Worldwide sales increased 10 percent -- 9 percent at constant currency rates -- to $1.47 billion from $1.34 billion during the fourth quarter of 1991.
 Earnings per share (EPS) in the fourth quarter increased 13 percent to $1.02, compared with 90 cents during the same period a year earlier; and net income increased 14 percent to $138 million, compared with $121 million during the same period last year. Fourth-quarter 1991 amounts exclude previously announced nonrecurring charges.
 For the year, worldwide sales increased 11 percent to a record $5.6 billion. Compared to 1991 full-year results excluding one-time charges, EPS increased 15 percent to a record $4.78 and net income increased 15 percent to $644 million, also a record.
 Melvin R. Goodes, chairman and chief executive officer, said strong worldwide sales in both the Pharmaceutical and Consumer sectors made possible the company's outstanding performance for the year.
 Goodes said the company's strengthening domestic consumer businesses and the continued robust sales of consumer products outside the U.S., as well as strong pharmaceutical product sales worldwide, contributed to the company's good fourth-quarter results.
 "We've said that strong top-line growth over the long term is a strategic imperative for Warner-Lambert, and we remain confident in our ability to generate vigorous sales -- based on our diversified lines of business, the global potential of our products and the promise of innovative new products in our R&D pipeline," Goodes added.
 For the year, worldwide sales within the Pharmaceutical Sector, which includes prescription pharmaceuticals and the company's Capsugel empty hard gelatin capsule business, increased 13 percent, to $2.28 billion.
 For the year, Pharmaceutical Sector sales increased 14 percent in markets outside the U.S. and 12 percent in the U.S. Sector growth was led by the lipid regulator Lopid, whose sales for the year increased 13 percent to more than $550 million. The company's prescription pharmaceutical products line includes the cardiovascular drug Accupril, whose worldwide sales surpassed $100 million for the first time, Dilzem, also a cardiovascular, the newly introduced nicotine patch Nicotrol, the analgesic Ponstel, the anticonvulsant Dilantin and Loestrin oral contraceptives.
 For the year, worldwide sales in the Consumer Sector increased by 9 percent. Sales rose 14 percent in markets outside the U.S. and by 4 percent in the U.S. Two new products, Cool Mint Listerine antiseptic mouthwash and Cinn(asterisk)A(asterisk)Burst chewing gum, drove growth in the Sector. Established brands also contributed to sector gains, including Lubriderm skin care products, Clorets gum and mints, Halls cough tablets, Schick razors and blades, and Tetra pet care products. The company's line of consumer products also includes Listerine antiseptic mouthwash, Benadryl antihistamine, Rolaids antacid, Sinutab sinus medication, Tucks medicated pads, Anusol hemorrhoidal preparation, Efferdent denture cleanser, Trident sugarless gum, Bubblicious bubble gum, Certs breath mints, Dentyne chewing gum and Chiclets candy coated gum.
 In important developments since the end of the third quarter:
 -- Warner-Lambert received an approval recommendation during December from an FDA advisory committee for Neurontin (gabapentin) as a new add-on epilepsy therapy.
 -- Boots Pharmaceuticals' Manoplax, a new congestive heart failure therapy, was approved for marketing in the U.S. by the FDA. Warner- Lambert will co-promote the product in the U.S. with Boots, the drug's developer. As part of a previously announced agreement, Boots is currently co-promoting Lopid in the U.S. with Warner-Lambert.
 -- The company said nearly 5,400 patients and more than 1,800 physicians are taking part in its expanded access ("treatment IND") program for Cognex (tacrine) in the U.S. Warner-Lambert also completed a 30-week, high-dose study (970-61) with Cognex among 500 patients. Results are being analyzed and will be shared with the FDA over the coming months.
 -- Warner-Lambert purchased the remaining shares of its confectionery products joint venture with Societa Meridionale Finanziara S.p.A. (SME) of Italy. The business, now operating under the Adams trademark, is the second largest confectionery company in Italy. Warner- Lambert entered into the joint venture with SME S.p.A. in January 1991, as part of its continuing strategy to build alliances in the growing consumer and pharmaceutical markets of Europe.
 Warner-Lambert is a worldwide company devoted to discovering, developing, manufacturing and marketing quality health care and consumer products. It employs approximately 34,000 people.
 Following is the summary of Warner-Lambert Company's financial results for the three and 12 months ended December 31, 1992 and 1991:
 Three months ended December 31,
 1992 1991
 Sales $1,474,412,000 $1,337,028,000
 Research & development 136,486,000 120,948,000
 Inc. (loss) before federal, (297,052,000)(A)
 Earnings (loss) per share 1.02 (2.21)(A)
 Average number of common
 shares outstanding 134,933,000 134,542,000
 Twelve months ended December 31,
 1992 1991
 Sales $5,597,582,000 $5,058,961,000
 Research & development 473,485,000 423,169,000
 Inc. before federal, state
 & foreign inc. taxes 858,200,000 22,545,000(A)
 Net income before accounting
 change 643,650,000 140,848,000(A)
 Accounting change
 (net of tax) - (106,000,000)(B)
 Net income 643,650,000 34,848,000(A)(B)
 Earnings per share 4.78 .26(A)(b)
 Average number of common
 shares outstanding 134,717,000 134,441,000
 (A) Fourth quarter and 12 months results for 1991 include $544 million ($418 million after tax or $3.11 per share) of nonrecurring charges.
 (B) Included the accounting change of $146 million ($106 million after-tax or $.79 per share) reflecting the adoption of Statement of Financial Accounting Standards No. 106, "Employers' Accounting for Postretirement Benefits Other Than Pensions," recorded retroactively as of January 1, 1991.
 -0- 1/26/93
 /CONTACT: Peter Wolf, 201-540-6696, or Sandy Horner, 201-540-4268; or Stephen Mock (investors), 201-540-6916, or Cary Rosansky (investors), 201-540-4874, all of Warner-Lambert/
 (WLA)


CO: Warner-Lambert Company ST: New Jersey IN: MTC SU: ERN

SH -- NY015 -- 8963 01/26/93 09:45 EST
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