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FOREST LABORATORIES REPORTS RECORD FISCAL THIRD QUARTER RESULTS

   FOREST LABORATORIES REPORTS RECORD FISCAL THIRD QUARTER RESULTS
     NEW YORK, Jan. 22 /PRNewswire/ --- Forest Laboratories, Inc. (AMEX: FRX), an international pharmaceutical manufacturer and marketer, today reported record revenues and earnings for its third fiscal quarter and nine months ended Dec. 31, 1991.
    For the third quarter, net income increased 31 percent to $12,701,000 from $9,715,000 reported in the third quarter of the prior year.  Net income per share increased to $.29 in the current year as compared to $.23 in last year's third fiscal quarter.
    Net revenues for the three months ended Dec. 31, 1991 increased 40 percent to $64,937,000 d in the nine months of the prior year.  Primary net income per share in the current year's nine months equaled $.82, as compared to $.65 in the nine month period of the prior year.  Fully diluted net income per share in the current nine month period equaled $.81 as compared to $.64 in the prior year's period.
    Net revenues for the nine months ended Dec. 31, 1991 increased 41 percent to $183,317,000 from $130,176,000.
    Howard Solomon, president of Forest, said "The revenues and earnings growth resulted from the continued efforts of our expanded salesforce which has helped to generate excellent sales gains for our promoted branded products.  Aerobid(R), Tessalon(R), Levothroid(R) and our generic controlled release propranolol all showed excellent progress in the quarter.
    Solomon added "As our recently expanded salesforce gains still more experience, we look forward to continued growth in revenues and income in the future."
                    FOREST LABORATORIES, INC. AND SUBSIDIARIES
                        Consolidated Statement of Income
            (In thousands, except per share amounts -- Unaudited)
    Periods ended               Three Months           Nine Months
     Dec. 31                  1991       1990       1991        1990
    Net revenues            $64,937    $46,464   $183,317    $130,176
    Income before
     income taxes            20,212     13,913     56,209      38,978
    Income taxes              7,511      4,198     20,481      11,915
    Net income              $12,701     $9,715    $35,728     $27,063
    Net income per common and
     common equivalent share:
      Primary                  $.29       $.23       $.82        $.65
      Fully diluted            $.29       $.23       $.81        $.64
    Weighted average number of
     shares outstanding:
      Primary                43,771     41,766     43,824      41,612
      Fully diluted          44,169     42,052     44,174      42,034
    -0-        1/22/92
    /CONTACT:  Kenneth E. Goodman, vice president-finance, 212-421-7850/
    (FRX) CO:  Forest Laboratories Inc. ST:  New York IN:  MTC SU:  ERN SM -- NY023 -- 2144 01/22/92 10:02 EST
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Publication:PR Newswire
Date:Jan 22, 1992
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