MIXED RESULTS FROM LATEST US QUARTERLIES

10 May 1992

Du Pont and Eastman Kodak were among the companies reporting first-quarter 1992 financial results in the past week. Both had poor results impacted by adverse conditions in markets other than pharmaceuticals.

- Du Pont's first-quarter results were adversely affected by weaker market conditions in the petroleum industry. The company commented that its medical products business had higher earnings.

- Eastman Kodak made flat sales in the first quarter of 1992 and earnings were down on last year's quarter. Sales by Sterling Winthrop, Kodak's health care business, were lower due solely to the fact that its 1991 first quarter included five reporting months for units outside the USA. The company pointed out that without this, the units would have shown good gains. Total sales by the health care segment were down 5% to $1.2 billion. This was made up of sales of $721 million inside the USA, up 20% on the like, year-earlier period, and $479 million in sales outside the USA, down 28%. Sales outside the USA in 1991 included revenues from two additional months. Without these, health sales outside the USA would still have shown a slight decline because sales of certain Sterling/Sanofi units are not consolidated in company sales results.

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