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FOREST LABORATORIES REPORTS RECORD FISCAL SECOND QUARTER RESULTS

 NEW YORK, Oct. 19 /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, 1993.
 Net income for the current quarter increased 24 percent to $19,547,000 from the $15,797,000 reported in the second quarter of the prior year. Primary and fully diluted net income per share equaled $.43 in the current year as compared to $.35 in last year's second fiscal quarter.
 For the quarter, net revenues increased 18 percent to $85,699,000 from $72,731,000.
 For the six months ended Sept. 30, 1993, net income increased 25 percent to $37,091,000 from $29,766,000 reported in the six months of the prior year. Primary net income per share equaled $.82 and fully diluted net income per share equaled $.81 in the current year's first six months as compared to primary and fully diluted net income per share of $.66 in last year's six months.
 For the first six months of the current year, net revenues increased 18 percent to $167,138,000 from $141,329,000.
 Howard Solomon, president of Forest, said: "Our principal branded promoted products continue to respond well to our detailing efforts which is resulting in significant prescription growth. We are pleased to have received marketing approval in September for Flumadine(R), our product to prevent and treat influenza A. With Flumadine's launch in October and the continued growth of our promoted products, we look forward to continued growth in our revenues and earnings."
 FOREST LABORATORIES, INC. AND SUBSIDIARIES
 Consolidated Statements of Income
 (Unaudited; in thousands, except per share amounts)
 Periods ended Three Months Six Months
 Sept. 30 1993 1992 1993 1992
 Net revenues $85,699 $72,731 $167,138 $141,329
 Income before income taxes 30,542 24,682 57,956 46,532
 Income taxes 10,995 8,885 20,865 16,766
 Net income 19,547 15,797 37,091 29,766
 Net income per common and
 common equivalent share
 Primary $.43 $.35 $.82 $.66
 Fully diluted $.43 $.35 $.81 $.66
 Weighted average number of
 shares outstanding
 Primary 45,400 45,433 45,500 45,190
 Fully diluted 45,770 45,434 45,772 45,425
 -0- 10/19/93
 /CONTACT: Kenneth E. Goodman, vice president-finance of Forest Laboratories, Inc., 212-421-7850/
 (FRX)


CO: Forest Laboratories, Inc. ST: New York IN: MTC SU: ERN

TM-00:00 -- NY008 -- 3728 10/19/93 08:03 EDT
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Publication:PR Newswire
Date:Oct 19, 1993
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