Par Pharmaceutical Reports Second-Quarter Sales and Earnings

Par Pharmaceutical Reports Second-Quarter Sales and Earnings: "SPRING VALLEY, N.Y., July 28 /PRNewswire-FirstCall/ -- Par Pharmaceutical Companies, Inc. (NYSE: PRX - News) today reported total revenues of $117.0 million for the second quarter ended July 3, 2005. Par reported a net loss in the quarter of $.6 million, or $.02 loss per diluted share. This result includes an unrealized loss of $8.3 million, or $5.2 million after tax, reflecting the impairment of Par's investment in Advancis Pharmaceutical Corporation following the recent release of results from Advancis' Amoxicillin PULSYS Phase III clinical trials. Excluding this unrealized loss, net income was $4.6 million and diluted earnings per share were $.13. This is compared with reported revenues of $212.5 million, net income of $29.9 million, and diluted earnings per share of $.85 in 2004."