EATONTOWN, N.J., Jan. 21 /PRNewswire/ -- Roberts Pharmaceutical
Corporation (Nasdaq: RPCX) today noted that preliminary, unaudited data
indicate substantial strengthening in operations during the fourth-quarter
ended December 31, 1996. Fourth-quarter 1996 operating results should exceed
the expectations of analysts who have projected a flat to modestly improved
quarter compared to the Company's reported third-quarter 1996 results.
Fourth-quarter 1996 revenues from continuing operations are expected to
surpass $30 million, up sharply from the $21.7 million reported for the third-
quarter 1996. While third-quarter 1996 net income from operations had been
reported at a loss of $3.1 million or $0.16 a share, the Company expects
fourth-quarter 1996 net income from operations to approximate breakeven, based
on continuing operations and before unusual items.
"The strengthening fourth-quarter 1996 operations reflect ongoing efforts
to control costs, refocus the business, and bring new drugs into the
marketplace," said Peter M. Rogalin, Roberts' Vice President and CFO. He
continued by noting, "With the recent launch of our first pipeline drug
ProAmatine(TM) and with the shortly expected approval of Agrylin(TM), we
believe Roberts is well positioned and on the right track for growth."
In keeping with a strategy to focus greater resources on the
commercialization of its proprietary pipeline, Roberts divested certain
nonstrategic products in the final quarter of 1996. As previously indicated,
the Company will record a fourth-quarter 1996 non-cash write-off of goodwill
for these products and some other minor brands. In turn, Roberts will realize
associated income statement benefits in the future.
Roberts Pharmaceutical Corporation is an international pharmaceutical
company focusing on the marketing and sale of prescription pharmaceuticals and
the development of late-stage drugs. Roberts currently markets its products
in seven countries and has operating subsidiaries in the U.S., Canada, and the
United Kingdom.
This and past news releases by 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
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 and competing products. Any changes
in such assumptions or external factors could produce significantly different
results.
SOURCE Roberts Pharmaceutical Corporation
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CONTACT: Stuart Z. Levine, Ph.D., Director of Investor Relations of Roberts Pharmaceutical, 908-389-1182, ext. 3064
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