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FOREST LABORATORIES REPORTS RECORD FISCAL THIRD QUARTER RESULTS

 NEW YORK, Jan. 19 /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, 1992.
 For the third quarter, net income increased 32 percent to $16,739,000 from $12,701,000 reported in the third quarter of the prior year. Net income per share increased to $.37 in the current year as compared to $.29 in last year's third fiscal quarter.
 Net revenues for the three months ended Dec. 31, 1992 increased 20 percent to $78,133,000 from $64,937,000.
 For the nine months ended Dec. 31, 1992, net income increased 30 percent to $46,505,000 from $35,728,000 reported in the nine months of the prior year. Primary net income per share in the current year's nine months equaled $1.03, as compared to $.82 in the nine month period of the prior year. Fully diluted net income per share in the current nine month period equaled $1.02 as compared to $.81 in the prior year's period.
 Net revenues for the nine months ended Dec. 31, 1992 increased 20 percent to $219,462,000 from $183,317,000.
 Howard Solomon, president of Forest, said "The revenues and earnings growth resulted from the continued excellent unit sales growth of our promoted branded products. Aerobid(R), Esgic(R), Lorcet(R), Levothroid(R) and our generic controlled release propranolol all showed excellent progress in the quarter."
 Mr. Solomon added "The new prescription trends we are seeing for our promoted products are very encouraging and we look forward to continued growth in revenues and income in the future."
 FOREST LABORATORIES, INC. AND SUBSIDIARIES
 Consolidated Statement of Income
 (Unaudited, In thousands, except per share amounts)
 Period ended Three Months Nine Months
 December 31 1992 1991 1992 1991
 Net revenues $78,133 $64,937 $219,462 $183,317
 Income before income taxes 26,296 20,212 72,828 56,209
 Income taxes 9,557 7,511 26,323 20,481
 Net income 16,739 12,701 46,505 35,728
 Net income per common and
 common equivalent share:
 Primary $.37 $.29 $1.03 $.82
 Fully diluted $.37 $.29 $1.02 $.81
 Weighted average number of
 shares outstanding:
 Primary 45,685 43,771 45,356 43,824
 Fully diluted 45,833 44,169 45,756 44,174
 -0- 1/19/93 R
 /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-LD -- NY003R -- 6294 01/19/93 11:37 EST
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Publication:PR Newswire
Date:Jan 19, 1993
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