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NEUTROGENA CORP. REPORTS RESULTS

 NEUTROGENA CORP. REPORTS RESULTS
 LOS ANGELES, May 21 /PRNewswire/ -- Neutrogena Corp. (NASDAQ: NGNA)


today reported second fiscal quarter net income of $4,299,000, up 20 percent from net income of $3,577,000 achieved in the corresponding year earlier quarter. On a per share basis, earnings rose to $.16 from $.14. Sales for the period, ended April 30, 1992, rose 11 percent to $63,328,000 from $57,234,000 a year ago.
 For the first half of its fiscal 1992 year, Neutrogena's net income increased 17 percent to $10,476,000 from $8,966,000 for the six-month period last year. Earnings per share for the six months equaled $.39, up from $.34. Revenues for the first half advanced by 12 percent to $127,290,000 as compared with first half revenues last year of $113,602,000.
 Lloyd E. Cotsen, Neutrogena's chairman and chief executive officer, attributed the quarter's results to excellent performance across many of Neutrogena's product lines, both in the United States and Europe.
 "The effectiveness of our promotional programs boosted unit sales in our hair care, body care and shower care categories," Cotsen said. "Despite the negative effect of exchange rates, we continued to experience strong performance in Europe, and we are particularly pleased with the accelerated growth the quarter held for our U.S. operations. Additionally, during the second quarter, we began informing retailers of a number of new products and product line extensions, all of which are receiving favorable responses from our major trade accounts. We anticipate that we will begin to see the positive effects of these introductions sometime late in the third quarter."
 Cotsen added: "I continue to be optimistic about our performance for the full year. Yet, again, I want to caution against strict quarter-to-quarter comparisons to last year, primarily because we have increased the frequency of our promotional programs this year and have changed the timing of several major product group promotions over the prior year. Additionally, last year, Neutrogena suspended much of its planned third quarter advertising expenditures in order to fund an intensive fourth fiscal quarter television campaign."
 The company also announced that the Cotsen divorce settlement was concluded and will have no material effect on the operations of the company or its shareholders.
 Neutrogena Corp., headquartered in Los Angeles, manufactures and sells high-quality, premium-priced specialty skin care and hair care products.
 NEUTROGENA CORP. AND SUBSIDIARIES
 Consolidated Statements of Income
 (Unaudited)
 For the Six Months For the Three Months
 Ended April 30, Ended April 30,
 1992 1991 1992 1991
 Net Sales $127,290,000 $113,602,000 $ 63,328,000 $ 57,234,000
 Income before
 provision for
 income taxes 16,761,000 14,232,000 6,798,000 5,540,000
 Provision for
 income taxes 6,285,000 5,266,000 2,499,000 1,963,000
 Net income 10,476,000 8,966,000 4,299,000 3,577,000
 Net income
 per share $ 0.39 $ 0.34 $ 0.16 $ 0.14
 Average number
 of shares
 outstanding 26,839,754 26,467,599 26,784,704 26,516,413
 -0- 5/21/92
 /CONTACT: Dasha Lewin of Neutrogena, 310-642-1150; Cecilia A. Wilkinson of Pondel Parsons & Wilkinson, 310-207-9300, for Neutrogena/
 (NGNA) CO: Neutrogena Corp. ST: California IN: HEA SU: ERN


DM -- LA006 -- 2661 05/21/92 09:07 EDT
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Date:May 21, 1992
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