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A. L. LABORATORIES REPORTS SECOND QUARTER AND SIX MONTH RESULTS

 FORT LEE, N.J., July 30 /PRNewswire/ -- A. L. Laboratories, Inc. (NYSE: BMD) today reported that for its second quarter ended June 30, 1993, total revenue from continuing operations increased 16 percent to $81,753,000 compared with $70,412,000 in 1992. Net income from continuing operations was $2,539,000 compared to $3,936,000 in the second quarter of last year. Fully diluted per share earnings from continuing operations were $.12 versus $.22 in the same period of 1992. Total net income for the second quarter 1992, including income from discontinued operations, was $4,322,000 or $.24 per share.
 Total revenue from continuing operations for the six months ended June 30, 1993 increased 13 percent to $159,541,000 compared with $141,628,000 in 1992. Net income from continuing operations was $6,456,000 compared to $7,504,000 in the first half of 1992. Fully diluted per share earnings from continuing operations were $.30 versus $.42 in the same period of 1992. Total net income for the first half of 1992, which included income from discontinued operations, was $8,278,000 or $.45 per share.
 The company adopted SFAS 109 "Accounting for Income Taxes" effective Jan. 1, 1992, which required the second quarter 1992 results be restated to reflect the effect on deferred taxes of a reduction in the Danish tax rate. The restatement increased 1992 income from continuing operations and net income for the three and six months ended June 30, 1992 by $1,013,000 or $.05 per share.
 A. L. Laboratories is a multinational manufacturer and marketer of specialized and value-added, branded pharmaceuticals and animal health micronutrients, with plant sites in Illinois, Maryland, New Jersey, New York, North Carolina, Washington State, Denmark and Indonesia.
 A. L. LABORATORIES, INC.
 Consolidated Statement of Income
 (Unaudited, In Thousands, Except Per Share Data)
 Three Months Ended Six Months Ended
 June 30, June 30,
 1993 1992(a) 1993 1992(a)
 Total revenue $81,753 $70,412 $159,541 $141,628
 Cost of sales 48,351 38,754 93,091 77,710
 Gross profit 33,402 31,658 66,450 63,918
 Selling, general and
 administrative expenses 27,490 23,708 52,560 47,086
 Operating income 5,912 7,950 13,890 16,832
 Interest expense (1,649) (2,892) (3,255) (5,963)
 Other, net 13 (124) 169 112
 Income from continuing
 operations before
 provision for income
 taxes 4,276 4,934 10,804 10,981
 Provision for income taxes 1,737 998 4,348 3,477
 Income from continuing
 operations 2,539 3,936 6,456 7,504
 Income from discontinued
 operations, net of tax -- 386 -- 774
 Net income $2,539 $4,322 $6,456 $8,278
 Average common shares
 outstanding:
 Primary 21,501 17,108 21,497 17,098
 Fully diluted 21,626 21,549 21,622 21,541
 Earnings per common share:
 Primary
 Income from continuing
 operations $ .12 $ .23 $ .30 $ .44
 Net income $ .12 $ .25 $ .30 $ .48
 Fully diluted
 Income from continuing
 operations $ .12 $ .22 $ .30 $ .42
 Net Income $ .12 $ .24 $ .30 $ .45
 Dividends per common
 share $ .045 $ .045 $ .09 $ .09
 (a) Restated to reflect the effect of a tax rate change on deferred taxes in Denmark. The restatement results from the implementation of SFAS 109 "Accounting for Income Taxes" effective January 1, 1992 and increases income by $1,013 ($.05 per share fully diluted).
 A. L. LABORATORIES, INC.
 Financial Position
 (In thousands)
 June 30, December 31,
 1993 1992
 (unaudited) (audited)
 Current assets $152,463 $155,372
 Non-current assets 234,790 216,352
 Total assets $387,253 $371,724
 Current liabilities $ 84,333 $ 87,490
 Long-term debt 90,475 73,651
 Deferred taxes and other liabilities 26,348 26,458
 Stockholders' equity 186,097 184,125
 Total liabilities and stockholders'
 equity $387,253 $371,724
 -0- 7/30/93
 /CONTACT: Iris Daniels, investor relations manager, 201-947-7774 Donna N. Stein, APR Morgen-Walke Associates, Inc., 212-850-5600, both for A. L. Laboratories, Inc./
 (BMD)


CO: A. L. Laboratories, Inc. ST: New Jersey IN: MTC SU: ERN

TS-LD -- NY001 -- 7571 07/30/93 07:15 EDT
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Publication:PR Newswire
Date:Jul 30, 1993
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