Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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

RELATED NEWS
Trade LLY now with 

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.

Register
To receive FREE breaking news email alerts for Eli Lilly And Co. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
German consumer climate is set to improve slightly in November, ending the downward trend, as income expectations among households strengthened on the back of the strong labor market situation, survey data revealed Friday.The forward-looking consumer confidence index rose slightly to 8.5 in November from 8.4 in October. Software giant Microsoft Corp. said Thursday after the markets closed that its first quarter profit fell 13% from last year, hurt mainly by integration and restructuring costs even as revenue surged 25% thanks to strong sales of its gadgets and cloud-based products. However, the company's quarterly earnings per share came in above analysts' expectations as did its quarterly revenue. After turning lower over the course of the previous session, stocks showed a substantial move back to the upside during trading on Thursday. The gains more than offset yesterday's loss, extending the recovery from the recent sell-off.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.