SYNTEX POSTS STRONG 2ND QTR
Syntex Corp performed well in the second quarter of fiscal 1992 ended January 31, with net sales of $530.9 million, up 20% on the like, year-earlier period. Net income also grew 20% to $121.6 million, and earnings per share were 54 cents, rising 20%.
For the six-month period sales grew 16% to $898.7 million, net income was $226.7 million, up 12%, and earnings per share grew 12% to $1.13.
"Our strong earnings performance in the second quarter of fiscal 1992 was due to a combination of excellent sales and a special promotion to wholesalers that occurred late in the quarter," said Paul Freiman, chairman and chief executive at Syntex. "We believe that the promotion moved some sales into the second quarter that would have otherwise occurred in the third quarter," he added.
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