Advertisement

Allergan Says Strong Sales Boost 3rd-Quarter Profits : The Irvine pharmaceuticals manufacturer also cites favorable overseas exchange rates as a factor.

Share
TIMES STAFF WRITER

Citing favorable exchange rates in its overseas markets and strong pharmaceutical sales, Allergan Inc. said Monday that its quarterly sales and earnings jumped.

The company, which manufactures and distributes eye- and skin-care products worldwide, said earnings for the third quarter were $30.4 million, or 45 cents a share. That contrasted with a loss of $121.6 million, or $1.80 a share, for 1991’s third quarter.

The loss was because of a onetime charge of $150 million when the company announced that it would sell its U.S. contact lens business. The sale has not been finalized yet. Excluding the write-off, the company would have posted a profit of $27 million, or 5 cents a share, for the period last year.

Advertisement

Sales for the latest quarter were $229 million, up 9% from $210 million for the same period last year.

For the first nine months of the year, the company reported a profit of $73.6 million, or $1.09 a share. That contrasted with a loss of $87.4 million, or $1.30 a share, for the same period in 1991. Excluding the third-quarter charge-off last year, earnings increased 20%.

Sales for the latest nine-month period were $660 million, up 7% from $612 million.

Advertisement