EATONTOWN, N.J., Jan. 20 /PRNewswire/-- Roberts Pharmaceutical
Corporation (Amex: RPC) announced today that, based on preliminary unaudited
data, the Company expects per share earnings for the fourth quarter of 1997 to
be in the range of $0.07 to $0.09, significantly exceeding the FIRST CALL(R)
consensus estimate of $0.05.
Additionally, Roberts expects revenues for the fourth quarter ended
December 31, 1997 to be in the order of $35 million to $37 million, up sharply
from $28.6 million in the third quarter of 1997 and well ahead of the $32.4
million in the fourth quarter of 1996.
"The strength anticipated for fourth-quarter earnings reflects a
combination of factors, including an improvement in operating margins as well
as an advance in revenues, particularly the sales of our newer products
ProAmatine(R) and Agrylin(TM)," said John T. Spitznagel, Roberts President and
CEO.
"1997 was a year of many achievements," noted Mr. Spitznagel. "In
addition to the US launch of ProAmatine and Agrylin plus other pipeline
accomplishments, we expanded our senior management team and acquired a
manufacturing facility in line with our strategy to position Roberts as a
fully integrated pharmaceutical company."
The Company also noted continued balance sheet strength with the unaudited
data indicating year-end 1997 cash and securities in the order of $83 million,
a current ratio in excess of 3 to 1, shareholders' equity approximating $318
million, and total liabilities at about 15% of equity.
Roberts Pharmaceutical Corporation, with operating subsidiaries in the
United States, Canada and the United Kingdom, focuses on licensing, acquiring,
developing and commercializing innovative pharmaceuticals.
This and past press releases of Roberts Pharmaceutical Corporation are
available through PR Newswire's Company News On-Call fax service at
1-800-758-5804, extension 760975 and on the internet at
http://www.prnewswire.com and http://www.robertspharm.com.
This release may contain forward-looking statements which reflect
management's current views of future events and operations. These
forward-looking statements are based on assumptions and external factors,
including assumptions relating to regulatory action, competing products, and
unaudited financial data. Any changes in such assumptions or external factors
could produce significantly different results.
SOURCE Roberts Pharmaceutical Corporation
 back to top
Related links:
http://www.robertspharm.com
CONTACT:
Stuart Z. Levine, Ph.D., Director of Investor
Relations of Roberts Pharmaceutical Corporation, 732-389-1182,
ext. 3064
|
