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BARR LABORATORIES RELEASES FIRST QUARTER FINANCIAL RESULTS

 BARR LABORATORIES RELEASES FIRST QUARTER FINANCIAL RESULTS
 POMONA, N.Y., Nov. 13 /PRNewswire/ -- Barr Laboratories, Inc. (AMEX: BRL) has released financial results for the first quarter ended Sept. 30, 1992.
 Net sales in the first fiscal quarter of 1993 were $17,091,000 as compared to $28,969,000 for the comparable quarter last year, a 41.0 percent decrease.
 Net earnings for the quarter ended Sept. 30, 1992 were $81,000 or $.01 per share as compared to $1,047,000 or $.12 per share for the comparable quarter last year.
 The company's net earnings in this quarter ended Sept. 30, 1992 were achieved in spite of its continued voluntary suspension of certain products which has resulted in the 41.0 percent decrease in net sales. In addition, the company incurred significant legal expenditures during the quarter as a result of its ongoing dispute with the Food and Drug Administration (FDA). The company and the FDA have concluded their presentations of evidence in the New Jersey Federal District Court proceedings and are awaiting a decision.
 The company remains out of compliance with certain covenants of its senior and convertible notes. The company remains hopeful that a modification or waiver of these covenants will be obtained from its noteholders.
 Barr Laboratories is a prime manufacturer of a broad range of multi- source pharmaceutical products with manufacturing facilities located in both Northvale, N.J. and Pomona.
 BARR LABORATORIES, INC. AND SUBSIDIARIES
 Consolidated Statement of Earnings
 (Thousands of dollars, except per share amounts, unaudited)
 Three months ended Sept. 30 1992 1991
 Net sales $17,091 $28,969
 Costs and expenses:
 Cost of sales 8,888 18,995
 Distribution 618 941
 Marketing and sales 1,378 1,850
 Research and development 1,423 2,131
 General and administrative 3,983 2,739
 Interest expense 653 628
 Other (income)/expense, net 13 22
 Earnings before income taxes 135 1,663
 Income tax provision 54 616
 Net earnings 81 1,047
 Net earnings per common share
 and common share equivalents 0.01 0.12
 Weighted average number of
 common shares and common
 share equivalents 8,618,671 8,649,313
 -0- 11/13/92
 /CONTACT: Harold Cohen, director of public relations of Barr Laboratories, Inc., 914-362-1100, ext. 2823/
 (BRL) CO: Barr Laboratories, Inc. ST: New York IN: MTC SU: ERN


AH-OS -- NY028 -- 0660 11/13/92 11:38 EST
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Publication:PR Newswire
Date:Nov 13, 1992
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