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EARNINGS

SmithKline Beckman Posts $134-Million Net in Quarter

October 21, 1986

Apparently helped along by increased sales at Beckman Instruments and Allergan Pharmaceuticals, its two Orange County-based divisions, SmithKline Beckman Corp. posted net earnings of $134 million for the third quarter ended Sept. 30--up 1.8% from $131.6. Revenues for the period were $956.4 million, up 16.5% from $820.7 million.

Nine-month profit for the company, which merged with Fullerton-based Beckman Instruments in 1982, dropped to $373.7 million this year from $384.8 million for the first nine months last year, largely because of withdrawal from the marketplace of three products--including Contac cold tablets--because of tampering. Sales for the period were $2.7 billion, up 12.5% from $2.4 billion.

While SmithKline Beckman spokesman Jeremy Heymsfeld said the Philadelphia-based company does not break out earnings by division, the Beckman division, which has cut its work force from 5,000 to 2,500 since the merger, contributed $160.9 million to the company's revenues, or 16.8% of the total. The third-quarter sales were up 5.2% from $152.9 million.

Sales of diagnostic instruments for the quarter were up 11% while bioanalytical instrument sales were 3% below the 1985 third quarter because of reduced U.S. government research funding, Heymsfeld said.

Irvine-based Allergan Pharmaceuticals reported third quarter sales of $102.9 for the quarter, up 38.3% from $74.4 million and 10.8% of the corporate total.

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