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RHONE-POULENC RORER 1992 EARNINGS INCREASE BY 31 PERCENT

 COLLEGEVILLE, Pa., and PARIS, Jan. 28 /PRNewswire/ -- Rhone-Poulenc Rorer (NYSE: RPR) today reported a 31 percent increase in earnings for 1992 on sales of $4.1 billion.
 "We are pleased with our 1992 performance -- especially in light of today's challenging global pharmaceutical environment," commented Robert E. Cawthorn, chairman and chief executive officer. "We have successfully achieved our objective of growing RPR's earnings at a rate faster than the pharmaceutical industry while, at the same time, substantially increasing our investment in research and development to drive future growth."
 Full Year 1992 Results
 Net income in 1992 reached $428 million ($3.10 per share) which was 31 percent higher than 1991 net income of $326 million ($2.37 per share). Results for 1992 included benefits totaling 28 cents from the adoption of a new tax accounting rule (FAS 109), net gains on asset sales, and a tax adjustment. Results for 1991 included 11 cents in asset sales gains, net of restructuring charges. Excluding these items in both years, 1992 earnings per share increased by 25 percent.
 Rhone-Poulenc Rorer reported sales of $4.1 billion in 1992 versus $3.8 billion in 1991. Excluding the effects of currency fluctuations and product divestitures, sales improved by 8.4 percent with key strategic products as a group increasing by 17 percent. For 1992, a total of eight products recorded sales in excess of $100 million versus five in 1991 and three in 1990. Strong growth was posted by U.S. prescription pharmaceutical products (Azmacort(R), Nasacort(R), DDAVP(R)) and by Armour, RPR's worldwide plasma fractions business (Monoclate-P(R), Albuminar(R)). Lovenox(TM), Imovane(R), Vasten(R) and Selectol(R) recorded significant gains in European markets. Anti- infective and analgesic product sales in France increased at a slower rate in 1992 as the incidence of flu was significantly lower than in 1991. Sales of Maalox(R) brand antacid in the United States were below 1991 levels due to ongoing competitive challenges coupled with reductions in wholesaler inventory levels. New U.S. promotional campaigns and product introductions in the second half have been positive for Maalox. Strong growth of calcitonin in Japan and excellent market acceptance of intranasal calcitonin in Spain more than offset lower calcitonin sales in Italy.
 R&D spending increased by 17 percent to $521 million in 1992. For the year, research expenditures were 12.7 percent of sales versus 11.6 percent of sales in 1991. In addition to increasing the R&D investment in 1992, project focus was further narrowed to concentrate on innovative new compounds with significant medical and commercial potential such as the AIDS immunotherapeutic being developed with Immune Response Corporation and the anti-cancer drug, Taxotere(R).
 Fourth Quarter Results
 For the fourth quarter, RPR reported sales of $1.2 billion versus $1.1 billion in 1991. Excluding the effects of currency fluctuations and divested products, sales increased by 7 percent. Net income in the fourth quarter was $167 million ($1.21 per share). This included approximately $18 million in after-tax gains from the sale of non- strategic products as well as a tax adjustment. Fourth quarter 1991 net income of $124 million included $5 million in similar after-tax gains. Excluding these items, net income grew by 26 percent.
 Cawthorn commented, "RPR enters 1993 with a strong foundation for continued growth. Our focused strategies in worldwide marketing and in R&D are working and will continue. Our potential for gross margin improvement remains strong and we are continuing to implement aggressive cost-containment strategies throughout the organization. Overall, RPR remains well positioned to meet the demands of a changing global environment. We are confident of our ability to continue to set and meet aggressive goals for future growth."
 Rhone-Poulenc Rorer is a global pharmaceutical company dedicated to the discovery, development, marketing, and manufacturing of human pharmaceuticals. The company operates in all major markets of the world.
 RHONE-POULENC RORER INC. AND SUBSIDIARIES
 Condensed Consolidated Statements of Income
 (Unaudited -- amounts in millions except per-share data)
 Periods ended Three months Year
 Dec. 31 1992 1991 1992 1991
 Net Sales $1,177.8 $1,110.0 $4,095.9 $3,824.3
 Cost of products
 sold 390.1 381.8 1,394.6 1,340.1
 Selling, delivery
 and administrative
 expenses 422.7 392.2 1,505.0 1,407.6
 Research and
 development expenses 137.7 119.3 521.3 444.5
 Restructuring Charges --- 13.9 --- 73.6
 Operating Income 227.3 202.8 675.0 558.5
 Interest expense, net 23.9 29.9 104.9 149.2
 Other expense, net .3 12.5 11.5 23.0
 Gain on sale of
 non-strategic assets 16.6 26.6 23.1 95.7
 Income before income
 taxes 219.7 187.0 581.7 482.0
 Provision for income
 taxes 50.2 62.4 158.4 155.5
 Net income before
 accounting change 169.5 124.6 423.3 326.5
 Cumulative effect of
 accounting change --- --- 15.0 ---
 Dividend on preferred
 stock (2.3) (0.4) (10.1) (0.4)
 Net income available
 to common
 shareholders $167.2 $124.2 $482.2 $326.1
 Earnings per common share:
 Before accounting
 change $1.21 $.90 $2.99 $2.37
 Cumulative effect of
 accounting change --- --- .11 ---
 Total 1.21 .90 3.10 2.37
 Earnings per common share for the year ended Dec. 31, 1992, includes $.11 per share cumulative effect of adoption of Statement of Financial Accounting Standards No. 109, "Accounting for Income Taxes," effective Jan. 1, 1992.
 Certain reclassifications have been made to the 1991 information to conform to 1992 classifications.
 /delval/
 -0- 1/28/93
 /CONTACT: Rhone-Poulenc Rorer investor relations, 215-454-3851, or media relations, 215-454-3871/
 (RPR)


CO: Rhone-Poulenc Rorer ST: Pennsylvania IN: MTC SU: ERN

MJ-MP -- PH013 -- 0238 01/28/93 12:03 EST
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Date:Jan 28, 1993
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