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) 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
Internet access is growing worldwide, but there is still a long way to go before the entire world is completely wired, a study from the Pew Research Center has found. The study also noted that men have greater access to the Internet than women in many nations. Backtracking on its early announcements on digital privacy, WhatsApp is planning to share member information, phone numbers and analytical data with Facebook, to make revenue from the platform. Discount retailers Dollar Tree Inc. and Dollar General Corp. both reported results for the second quarter that missed analysts' expectations. Looking ahead, Dollar Tree also forecast revenue for the third quarter below analysts' estimates and lowered its full-year revenue outlook. Shares of both companies are falling in pre-market activity.
comments powered by Disqus
Follow RTT