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WARNER-LAMBERT ACHIEVES RECORD EARNINGS AND SALES IN FIRST QUARTER

 WARNER-LAMBERT ACHIEVES RECORD EARNINGS AND SALES IN FIRST QUARTER
 MORRIS PLAINS, N.J., April 21, /PRNewswire/ -- Warner-Lambert Company (NYSE: WLA) reported today that earnings per share ("EPS") and net income for the quarter ending March 31, 1992, were a record for any quarter.
 Excluding the effect of an accounting change in 1991, EPS in the first quarter of 1992 increased 17 percent to $1.22, compared with $1.04 during the same period a year earlier; net income also increased 17 percent, to $164 million, compared with $140 million during the first quarter of 1991; and worldwide sales increased eight percent, or 10 percent at constant currency rates, to $1.31 billion from $1.22 billion during the comparable 1991 period, a record for a first quarter.
 Melvin R. Goodes, chairman and chief executive officer, said strong worldwide prescription pharmaceutical sales continue to pace the company's strong performance. He said a promising array of new pharmaceutical products and intensified support of existing products should help offset the loss of revenue following expiration of the patent for the company's leading product, Lopid, in January 1993.
 During the quarter, worldwide sales within the pharmaceutical sector rose 19 percent, led by Lopid, whose sales increased by more than 28 percent to $142 million. Without Lopid, sector sales were ahead 16 percent. The sector includes prescription products and empty hard- gelatin Capsugel capsules. Among the company's prescription pharmaceuticals are the anticonvulsant Dilantin, the cardiovascular drugs Accupril and Dilzem, the analgesic Ponstel, Loestrin oral contraceptives and the anti-infectives Doryx and Eryc.
 Worldwide sales within the consumer sector increased by one percent. Sales leaders included Lubriderm skin care products, Tetra pet care products, Benylin cough syrup and Clorets gum and mints. The company's line of consumer products includes Halls cough tablets, Listerine antiseptic mouthwash, Benadryl antihistamine, Rolaids antacid, Schick razors and blades, Sinutab sinus medication, Tucks medicated pads, Anusol hemorrhoidal preparation and Efferdent denture cleanser, Trident sugarless gum, Bubblicious bubble gum, Certs breath mints, Dentyne and Cinn*A*Burst chewing gums, Chiclets candy coated gum and chocolate/caramel brands including Junior Mints.
 "Within our worldwide consumer sector, sales were ahead marginally," Goodes said. "The domestic business was adversely affected by the sluggish U.S. economy and the short-term impact of major sales force realignments in both the consumer health products and American Chicle groups. We also shifted two American Chicle traditional first-quarter promotions to the second quarter. Based upon orders this month, we anticipate stronger second-quarter sales."
 In important developments since the beginning of the year, the company:
 -- Began an expanded access ("Treatment IND") program in February for its experimental Alzheimer's disease drug Cognex, which ultimately could widen use of the drug to as many as 15,000 patients in the U.S. Information on the program can be obtained by telephoning 1-800-45-COGNEX. In addition to the expanded access program, the company said enrollment in its 550-patient, 33-site clinical study of Cognex is nearly complete.
 -- Announced that it will begin to market Cool Mint Listerine in the U.S. beginning in June. The product combines a cool mint taste with the germ-killing properties of original Listerine. The two products are the only leading branded mouthwashes to have been granted the Seal of Acceptance from the American Dental Association for their ability to prevent and reduce plaque and gingivitis, a form of gum disease.
 -- Said on February 27 that it had received a letter from the U.S. Food and Drug Administration that called into question whether it could obtain a timely approval for Lopid SR for the indications for which it has applied.
 -- Launched Nipent, an orphan drug for the treatment of hairy cell leukemia in adults who are resistant to standard therapy. The company said data show the drug to be significantly more effective than standard alpha interferon therapy in treating patients with the rare but life- threatening illness.
 -- Said in a joint announcement with Rhone-Poulenc Rorer that the two firms have agreed to co-develop and co-promote the advanced quinolone antibacterial sparfloxacin in the U.S. and Canada. Under the agreement, RPR will co-develop the compound in the U.S. and Canada in return for the rights to co-promote the drug in those countries.
 -- Announced that its Novon Products Group received a patent with more than 800 claims covering starch/polymer blends, representing the most far-reaching patent in the area and significantly extending the patent coverage for Novon specialty polymers. In addition, Warner- Lambert announced that its Novon Products Group has opened the world's largest production facility for biodegradable polymers, in Rockford, Ill., with an annual capacity of 100 million pounds.
 -- Said it will provide stock options to most U.S. employees, as well as a significant number outside the U.S., making it among the most comprehensive such programs in industry.
 Following is the summary of Warner-Lambert Company's financial results for the three months ended March 31, 1992 and 1991:
 WARNER-LAMBERT COMPANY FINANCIAL RESULTS
 Three months ended March 31: 1992 1991
 Sales $1,311,526,000 $1,217,195,000
 Research and development 115,103,000 94,717,000
 Income before federal, state
 and foreign income taxes 222,624,000 192,439,000
 Net income before accounting
 change 163,629,000 139,518,000
 Accounting change (net of tax) - (106,000,000) (A)
 Net income 163,629,000 33,518,000 (A)
 Earnings per share $1.22 $0.25 (A)
 Average number of common
 shares outstanding 134,608,000 134,364,000
 (A) Includes the accounting change of $146 million ($106 million
 after-tax or $.79 per share) reflecting the adoption of Statement of
 Financial Accounting Standards No. 106, "Employers' Accounting for
 Postretirement Benefits Other Than Pensions," recorded retroactively
 as of Jan. 1, 1991. Excluding the accounting change, earnings per
 share in the first quarter of 1991 were $1.04.
 -0- 4/21/92
 /CONTACT: Peter Wolf-media relations, 201-540-6696, or Stephen Mock, 201-540-6916, or Cary Rosansky, 201-540-4874, all of Warner- Lambert/
 (WLA) CO: Warner-Lambert Company ST: New Jersey IN: MTC SU: ERN


TQ -- NY022 -- 0472 04/21/92 10:03 EDT
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Date:Apr 21, 1992
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