Allergan Profit, Sales for 1993 Show Increases

Allergan Inc., a maker of eye- and skin-care products, Tuesday reported 1993 earnings from continuing operations of $104.5 million, or $1.58 a share.

That compared to a profit of $95.8 million, or $1.42 a share, for the previous year. Annual sales were $858.9 million, up from 1992’s $830.7 million.

For the fourth quarter, the company’s earnings from continuing operations were $30.5 million, or 47 cents a share, compared to $28.1 million, or 42 cents a share, for the same period a year earlier. Three-month sales were $231.3 million, up from $223.8 million.

Allergan, based in Irvine, also said it will repurchase as many as 1 million shares of the company’s common stock for its treasury. And the company declared a fourth-quarter dividend of 10 cents a share, payable March 10 to holders of record on Feb. 17.

William C. Shepherd, Allergan’s president and chief executive, said that 1993 “showed positive results in all areas” and that “looking forward, our emphasis will be on three core areas”: eye care, contact-lens care and skin care.

Allergan sold its contact lens-making business during the year as part of its program to concentrate on just a few businesses.

Including results from making contact lenses, profit for the year was $108.9 million, or $1.65 a share, compared to 1992 earnings of $103.6 million, or $1.53 a share. Fourth-quarter profit was $30.5 million, or 47 cents a share, compared to $33 million, or 49 cents a share, for the same period a year earlier.