Teva Shows Reasonable Growth For 2nd Qtr

Israeli-based Teva posted a rise in net income for the second quarter of 1994 of 30% to $18.2 million, compared to $13.9 million in the same period last year. Net income for the six-month period ended June 30 increased 29% to $35.2 million.

In the second quarter, profitability was similar to that in the first quarter of 1994, when gross profit rose to 45% of sales and net profit as a percentage of sales increased to over 12% compared to 43% and 11% respectively for the whole of 1993. Improvement in profitability, said the company, resulted in the main from increased sales in Israel and abroad, while a growing percentage of finished products are manufactured from raw materials produced by the group.

Sales for the second quarter of 1994 increased 18% to $146.9 million from $125 million in the second quarter of 1993. Sales for the first-half of 1994 reached $283.6 million, a 17% increase over the comparable period in 1993.