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FOREST LABORATORIES REPORTS RECORD FISCAL SECOND QUARTER RESULTS

 FOREST LABORATORIES REPORTS RECORD FISCAL SECOND QUARTER RESULTS
 NEW YORK, Oct. 20 /PRNewswire/ -- Forest Laboratories, Inc. (AMEX: FRX), an international pharmaceutical manufacturer and marketer, today reported record revenues and earnings for its second fiscal quarter ended Sept. 30, 1992.
 Net income for the quarter increased 29 percent to $15,797,000 from the $12,269,000 reported in the second quarter of the prior year. Net income per share equalled $.35 in the current year as compared to $.28 in last year's second fiscal quarter.
 For the quarter, net revenues increased 21 percent to $72,731,000 from $60,351,000.
 For the six months ended Sept. 30, 1992, net income increased 29 percent to $29,766,000 from $23,027,000 reported in the six months of the prior year. Net income per share equalled $.66 in the current year's first six months as compared to $.53 in the last year's six months.
 For the first six months of the current year, net revenues increased 19 percent to $141,329,000 from $118,380,000.
 Howard Solomon, president of Forest, said, "The second quarter increases in revenues and income resulted from continued demand for the company's principal promoted branded products. During the second quarter, we introduced two new product line extensions, AeroBid-M(R), a mint flavored formulation of AeroBid(R), and a unique higher potency formula analgetic which is marketed under the name Lorcet 10/650. We anticipate that these new products will contribute to the further growth of our promoted products."
 FOREST LABORATORIES, INC. AND SUBSIDIARIES
 Consolidated Statement of Income
 (Amounts in thousands, except per-share amounts -- unaudited)
 Periods ended Three months Six months
 Sept. 30 1992 1991 1992 1991
 Net revenues $72,731 $60,351 $141,329 $118,380
 Inc. bef. inc. taxes 24,682 19,380 46,532 35,997
 Income taxes 8,885 7,111 16,766 12,970
 Net income $15,797 $12,269 $29,766 $23,027
 Net income per common
 and common equivalent share:
 Primary $.35 $.28 $.66 $.53
 Fully diluted .35 -- .66 --
 Wtd. avg. no. of common and
 common equivalent shares
 outstanding:
 Primary 45,433 43,876 45,190 43,849
 Fully diluted 45,434 -- 45,425 --
 -0- 10/20/92
 /CONTACT: Kenneth E. Goodman, vice president-finance of Forest Laboratories, 212-421-7850/
 (FRX) CO: Forest Laboratories, Inc. ST: New York IN: MTC SU: ERN


CK-SH -- NY029 -- 2117 10/20/92 10:13 EDT
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Publication:PR Newswire
Date:Oct 20, 1992
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