INDIANAPOLIS, July 21, 2011 /PRNewswire/ —
Second-quarter 2011 revenue grew 9 percent to $6.253 billion due
to increased demand and favorable exchange rates.Q2 expense
growth driven primarily by marketing efforts to support new
launches, restructuring charge and exchange rates.R&D
investments support clinical pipeline of 70 potential new
medicines.Company delivered second quarter earnings per
share of $1.07 (reported), or $1.18 (non-GAAP).2011 earnings
per share guidance range revised to $3.85 – $3.95 (reported), or
$4.25 – $4.35 (non-GAAP).
Eli Lilly and Company (NYSE:
LLY) today announced financial results for the second quarter
of 2011.$ in millions, except per share data
Second Quarter
%20112010
GrowthTotal Revenue – Reported
$6,252.8$5,748.7
9%Net Income – Reported
1,197.31,348.9
(11)%EPS – Reported
1.071.22
(12)%Net Income – non-GAAP
1,315.91,366.9
(4)%EPS – non-GAAP
1.181.24
(5)%Financial results for 2011 and 2010 are presented on both a
reported and a non-GAAP basis. Reported results were prepared in
accordance with generally accepted accounting principles (GAAP) and
include all revenue and expenses recognized during the period.
Non-GAAP results exclude the items described in the reconciliation
tables. The non-GAAP results are presented in order to provide
additional insights into the underlying trends in the company’s
business. The company’s 2011 financial guidance is also being
provided on both a reported and a non-GAAP basis.
“In the second quarter, Lilly once again achieved solid
volume-driven revenue growth, despite the negative impact of
generic versions of gemcitabine in the United States. Our financial
results reflect the solid performance of
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