EATONTOWN, N.J., Oct. 12 /PRNewswire/ -- Roberts Pharmaceutical
Corporation (Amex: RPC) today announced that, based on preliminary unaudited
data, the Company expects to report a strong profit for the third quarter
ended September 30, 1998. Roberts said it expects third-quarter 1998 per
share earnings to exceed the high end of the First Call estimate range of
$0.10 to $0.13.
Revenues for the three months ended September 30, 1998 are expected to
again exceed the $40 million level. Additionally, the quarterly gross profit
margin should continue to reflect the strength achieved earlier in the year
due to the shift in product mix towards new higher margin pharmaceuticals.
Moreover, Roberts has continued to focus on improving its operating
efficiencies and the Company anticipates a meaningful decline in third-quarter
selling, administrative and general expenses as a percent of revenues.
Roberts further noted that its optimistic outlook for third-quarter
profits is based on a strong operating performance.
John T. Spitznagel, President and Chief Executive Officer of Roberts said,
"This highly favorable outlook for our third-quarter profit reflects a
continued focus on improving and strengthening our operations. All of us at
Roberts are working diligently to build the business and deliver a solid
long-term growth performance." Roberts said that third quarter results would
be reported during the week of October 19th.
Roberts Pharmaceutical Corporation, with operating subsidiaries in the
United States, Canada and the United Kingdom, focuses on innovative and value-
added therapeutics for gastroenterology, cardiology, neurology,
oncology/hematology, and urology. Roberts actively pursues its strategy of
"Search & Develop" to identify and acquire novel drug candidates to advance
through late-stage development into the market while also pursuing
opportunities to acquire and bring commercially available specialty
pharmaceuticals to their full potential.
This and past press releases of Roberts Pharmaceutical Corporation are
available through PR Newswire's Company News On Call fax service at
800-758-5804, extension 760975 and through the internet at
http://www.prnewswire.com as well as the Company's home page at
http://www.robertspharm.com.
This release may contain forward looking statements which are based on
assumptions and external factors, including assumptions relating to, but not
limited to regulatory action, product pricing, competitive market conditions,
financial data, new product development and other risks or uncertainties
detailed from time to time in Roberts filings with the Securities and Exchange
Commission. These forward-looking statements represent the Company's judgment
as of the date of this release and any changes in the assumptions or external
factors could produce significantly different results.
SOURCE Roberts Pharmaceutical Corporation
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Related links:
http://www.robertspharm.com
CONTACT:
Stuart Z. Levine, Ph.D., Director of Investor
Relations at Roberts Pharmaceutical Corp., 732-676-1200, ext.
3064
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