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NEUTROGENA POSTS HIGHER SALES AND EARNINGS FOR FISCAL YEAR, FOURTH QUARTER

 LOS ANGELES, Dec. 2 ~PRNewswire~ -- Neutrogena Corp. (NASDAQ: NGNA) today reported higher sales and earnings for its fiscal year and fourth quarter ended Oct. 31, 1992.
 For the year, Neutrogena's net income rose 13 percent to $24,029,000, or $0.90 per share, from $21,349,000, or $0.80 per share, a year ago. Sales increased 16 percent to $267,476,000 from $231,257,000 last year.
 For the 1992 fiscal fourth quarter, Neutrogena's net income climbed 55 percent to $7,469,000, or $0.28 per share, from $4,818,000, or $0.18 per share, in the corresponding year earlier period. Fourth quarter sales advanced 26 percent to $77,242,000 from $61,498,000 in the prior year final period.
 Neutrogena's Chairman and Chief Executive Officer Lloyd E. Cotsen attributed the positive performance to continued strength in international sales, the impact of new product introductions during the year as well as strong regular sales growth.
 "This growth reflects the early acceptance Neutrogena received for new products introduced into the U.S. market as well as good sales performance of our body and facial care products in the U.S. Our expanding presence on the international front, especially in Europe, contributed considerably to the year's success," Cotsen said. "The results are even more gratifying because they primarily represent solid unit volume increases, not price escalations."
 Cotsen added: "International sales moved up 42 percent compared with fiscal 1991, bringing this category for the first time to 25 percent of our total sales. We also enjoyed renewed growth in the U.S. last year, with domestic sales improving 9 percent in contrast to just 3 percent a year ago."
 The company noted that the current fourth quarter earnings gain compared with the prior fourth quarter was in part greater because the fiscal 1991 fourth quarter carried an unusually higher level of advertising expenses. This resulted from a shift in a significant portion of these expenses from the third quarter of fiscal 1991. Fiscal year to fiscal year comparisons were not affected.
 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
 (Dollars in thousands, except per share amounts)
 For the 12 months For the three months
 Ended Oct. 31, Ended Oct. 31,
 1992 1991 1992 1991
 Net Sales $267,476 $231,257 $77,242 $61,498
 Income before
 provision for
 income taxes 37,841 32,844 11,555 7,015
 Provision for
 income taxes 13,812 11,495 4,086 2,197
 Net income $24,029 $21,349 $7,469 $4,818
 Net income
 per share $0.90 $0.80 $0.28 $0.18
 Average number
 of shares
 outstanding 26,793,635 26,589,075 26,759,508 26,811,442
 -0- 12~2~92
 ~CONTACT: Donald R. Schort of Neutrogena, 310-642-1150; or Cecilia A. Wilkinson of Pondel Parsons & Wilkinson, 310-207-9300, for Neutrogena~
 (NGNA)


CO: Neutrogena Corp. ST: California IN: HOU SU: ERN

LS-JB -- LA008 -- 2759 12~02~92 09:01 EST
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Publication:PR Newswire
Date:Nov 30, 1992
Words:512
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