Warner-Lambert Results Rise
Warner-Lambert here reported its worldwide sales for the fourth quarter ended Dec. 31, 1994, increased 12% to $1.72 billion, compared with 1993 fourth-quarter sales of $1.53 billion.
The company said its net income in the fourth quarter increased 16% to $138 million, and earnings per share were ahead by 16%, to $1.02.
For the full year, Warner-Lambert's worldwide sales increased 11% to $6.42 billion, according to the company. Net income and earnings per share increased 8% to $694 million, or $5.17 a share, compared with net income of $645 million and earnings per share of $4.78, excluding a net restructuring charge and accounting changes reported in 1993.
For the year, worldwide sales in the consumer sector rose 18% to $4.34 billion, helped in part by alliances and acquisitions. Sales increased 19% outside the United States and 17% in the United States, said the company.
"We're encouraged by the vitality of our overall product portfolio and confident there are numerous growth opportunities for our world-class brands in the global marketplace," said Melvin R. Goodes, chairman and chief executive officer.
Maybelline Posts Record Sales
MEMPHIS, Tenn. -- Consolidated net sales at Maybelline here reached $351.8 million for the 12 months ended Dec. 31, 1994, surpassing the company's previous record of $346.7 million, set in 1993.
The company's net income of $16.6 million, however, dropped 25.8% from $22.3 million in 1993.
"Maybelline's sales continued to grow and gross profit margins improved in 1994, but net income and operating income declined as we invested in future growth," said Robert N. Hiatt, president and chief executive officer.
For the fourth quarter, Maybelline's consolidated net sales of $80.1 million were down 8% from net sales of $87.0 million in the fourth quarter of 1993. The company's net income of $1.1 million for the quarter was down 80% from 1993 fourth-quarter earnings of $5.7 million.
In 1995, the company will introduce "A Fresh, New Face" for classic Maybelline, including new products, new advertising and a new retail display.