logo
Share SHARE
FONT-SIZE Plus   Neg

Lilly Posts Lower Q1 Profit; Ups 2012 Earnings View - Quick Facts

Drug maker Eli Lilly and Co.'s (LLY: Quote) first-quarter reported net income declined to $1.01 billion or $0.91 per share from the prior year's $1.055 billion or $0.95 per share, chiefly due to lower gross margin and the increase in the effective tax rate, partially offset by the IPR&D charge in the first quarter of 2011. On a non-GAAP basis, quarterly net profit dropped to $1.03 billion or $0.92 per share from $1.37 billion or $1.24 per share last year. On average, 16 analysts polled by Thomson Reuters expected earnings per share of $0.78 for the quarter. Analysts' estimates typically exclude one-time items.

Worldwide total revenue was $5.60 billion, down 4 percent from $5.84 billion in the comparable period. The company said this 4 percent revenue decline was comprised of a 7 percent decrease due to lower volume, partially offset by an increase of 4 percent in prices. Foreign exchange rates had a negligible impact. Analysts estimated revenues of $5.36 billion for the quarter.

The company has raised its 2012 earnings per share guidance, now expecting it to be in the range of $3.14 - $3.29 on a reported basis and $3.15 - $3.30 on a non-GAAP basis. However, full-year revenue is still anticipated to lie between $21.8 billion and $22.8 billion. Analysts project earnings per share of $3.18 on revenue of $22.42 billion for 2012.

Earlier, Lilly estimated 2012 earnings between $3.10 and $3.20 per share on both, a reported and adjusted basis.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Germanwings co-pilot Andreas Lubitz, who appears to have deliberately crashed the aircraft on French Alps, had rehearsed controlled descent on another flight that morning, investigators said. The crash has killed 150 people aboard the Germanwings Flight 9525 on March 24. Electronic Arts Inc. (EA) on Tuesday reported an increase in profit for the fourth quarter, reflecting continued strong demand from gamers for titles compatible with new-gen consoles and better digital revenues, with both earnings and revenues topping Wall Street estimates. Redwood City, California-based... Daily deals site Groupon Inc said Tuesday after the markets closed that its first quarter loss narrowed from last year, as revenue increased and operating expenses fell. The company's quarterly earnings per share, excluding item, also came in above analysts' expectations, but its quarterly revenue fell short of analysts' forecast.
comments powered by Disqus
RELATED NEWS
Trade LLY now with 
Follow RTT