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FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
May 31, 1995
ROBERTS PHARMACEUTICAL CORPORATION
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(Exact name of registrant as specified in its charter)
New Jersey 1-10432 22-2429994
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(State or other (Commission (IRS Employer
jurisdiction File Number) Identification
of incorporation) Number)
Meridian Center II
4 Industrial Way West
Eatontown, New Jersey 07724
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(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code: 908-389-1182
Meridian Center II
4 Industrial Way West
Eatontown, New Jersey 07724
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(Former name or former address, if changed from last report)
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Item 5. Other Events
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Roberts Pharmaceutical Corporation today indicated that based on
preliminary information for two months, operating results for the second quarter
of 1995 are expected to be at, or about break even, and below the estimates of
the security analysts following the Company. Earnings for all of 1995 are also
expected to be below street estimates.
Revenues for the first two months of the 1995 second quarter are
estimated to be about the same as the entire first quarter 1995 revenue of
$20,000,000. Sales of Roberts' core products, excluding Tigan, Eminase, and
Noroxin, are showing improvement over the first quarter of the current year,
indicating that the Company is beginning to recover from the first quarter slump
in core product sales.
The Company attributed the current reduction in 1995 earnings
expectations to the following:
1. Operating results for the Company's Homecare Division and
VRG, the contract research group, are both operating well
below expectations, recording losses for the year-to-date.
2. Product sales and gross profit have not increased as rapidly
as had been planned and, as a result, the cost of ongoing
investment in R&D relating to products in the final stages
of the FDA approval process, increased spending on
international marketing, the increase in the U.S. sales
force and attendant administrative support, are not being
fully met.
Roberts is taking a number of steps to address current business
operations. The Company is exploring additional steps which can be taken to
stimulate sales and, at the same time, is taking a hard look at ways to cut
expenses.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ROBERTS PHARMACEUTICAL CORPORATION
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(Registrant)
Date: May 31, 1995 By: /s/ Anthony A. Rascio
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Anthony A. Rascio
Vice President
