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BRISTOL-MYERS SQUIBB COMPANY REPORTS SALES AND EARNINGS FOR THIRD QUARTER AND NINE MONTHS

 NEW YORK, Oct. 20 /PRNewswire/ -- Bristol-Myers Squibb Company (NYSE: BMY) today reported sales and earnings for the third quarter and nine months ended Sept. 30, 1993.
 For the third quarter, sales were $2.9 billion, a decrease of 3 percent. Excluding the negative effect of exchange rate fluctuations, sales increased 1 percent. Earnings from continuing operations after income taxes increased 6 percent to $608 million and earnings per share increased 7 percent to $1.18 per share from $1.10 per share in 1992.
 For the nine months, sales increased 1 percent to $8.4 billion. Excluding the negative effect of exchange rate fluctuations, sales increased 3 percent. Earnings from continuing operations after income taxes were $1,703 million, or $3.30 per share, reflecting an 8 percent increase over the prior year.
 For the third quarter, domestic and international sales each decreased 3 percent, and for the nine months, domestic and international sales each increased 1 percent. Excluding the negative effect of exchange rate fluctuations, international sales increased 6 percent for the third quarter and 7 percent for the nine months.
 Richard L. Gelb, chairman and chief executive officer, said, "The decrease in third quarter sales overall was due in large part to comparisons with very strong pharmaceutical sales in the third quarter of last year, unfavorable exchange rate fluctuations primarily affecting the pharmaceutical and medical device businesses and restrictive government cost containment measures in certain European countries."
 Total pharmaceutical sales declined 4 percent during the quarter. The company's newer products, including Pravachol, a cholesterol- lowering drug, Cefzil, an oral cephalosporin antibiotic, VIDEX, an anti-AIDS medication, and Monopril, a second-generation ACE inhibitor, all showed good growth, and TAXOL, an anti-cancer drug approved in December 1992, performed well. Capoten sales continued to be lower than prior year levels.
 Third quarter sales of the company's medical device business remained at prior year levels with hip and knee replacement sales increasing and strong volume growth in arthroscopy, ostomy and wound care products.
 For the quarter, consumer product sales decreased 3 percent, in part as a result of increased competition in the U.S. analgesics and hair care markets. At the same time, strong sales were reported of Sea Breeze skin care products, particularly in Japan, and of products from Laboratori Guieu, an Italian OTC skin care company acquired in early 1993. In the U.S., several newly introduced haircoloring products, including Glints Conditioning Color Enhancer, Lasting Color by Loving Care and Brights by Nice 'n Easy, performed well, as did Ban Clear A.P., an anti-perspirant deodorant.
 Nutritional sales decreased 1 percent for the quarter. Enfamil and ProSobee infant formula sales declined as a result of lower domestic sales under the Women, Infants and Children's (WIC) Program, due to the loss of certain sole source contracts in late 1992 and early 1993. In October, four new WIC contracts, in Pennsylvania, Missouri, South Carolina and Colorado, became effective. During the quarter, a number of products, including Gerber Baby Formula, Lactofree and adult nutritionals, turned in strong performances.
 BRISTOL-MYERS SQUIBB COMPANY
 Summary of Consolidated Sales and Earnings
 (In Thousands of Dollars Except for Per Share Amounts)
 Quarter Ended 9/30/93 9/30/92 Pct. Chng.
 Net Sales $2,861,969 $2,948,076 (3)
 Earnings from Continuing Operations
 Before Income Taxes 822,744 780,622 5
 Provision for Income Taxes 214,736 208,819 3
 Earnings from Continuing
 Operations 608,008 571,803 6
 Earnings from Discontinued
 Operations, net of taxes (a) -- 17,364
 Net Earnings $ 608,008 $ 589,167
 Per Common Share:
 Earnings from Continuing
 Operations $1.18 $1.10 7
 Earnings from Discontinued
 Operations (a) -- .04
 Net Earnings $1.18 $1.14
 Nine Months Ended 9/30/93 9/30/92 Pct. Chng.
 Net Sales $8,419,837 $8,332,068 1
 Earnings from Continuing Operations
 Before Income Taxes 2,304,875 2,158,887 7
 Provision for Income Taxes 601,572 577,954 4
 Earnings from Continuing
 Operations 1,703,303 1,580,933 8
 Earnings from Discontinued
 Operations, net of taxes (a) -- 43,777
 Earnings Before Cumulative
 Effect of Accounting Change 1,703,303 1,624,710
 Cumulative Effect of Accounting
 Change (net of income tax
 benefit of $144,483) (b) -- (246,012)
 Net Earnings $1,703,303 $1,378,698
 Per Common Share:
 Earnings from Continuing
 Operations $3.30 $3.05 8
 Earnings from Discontinued
 Operations (a) -- .09
 Earnings Before Cumulative Effect
 of Accounting Change 3.30 3.14
 Cumulative Effect of Accounting
 Change (b) -- (.47)
 Net Earnings $3.30 $2.67
 Average Common Shares Outstanding 516,271 518,035
 (a) Reflects the results of The Drackett Company, which was sold on Dec. 31, 1992.
 (b) Reflects the cumulative effect of an accounting change of $390 million before taxes ($.47 per share after taxes) resulting from the adoption of a new accounting standard for postretirement benefits, effective Jan. 1, 1992.
 -0- 10/20/93
 /CONTACT: Anthony Carter of Bristol-Myers Squibb, 212-546-4339/
 (BMY)


CO: Bristol-Myers Squibb Company ST: New York IN: MTC SU: ERN

GK -- NY031 -- 4461 10/20/93 10:09 EDT
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Date:Oct 20, 1993
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