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Lilly Reports First-Quarter 2011 Results

Mon, 04/18/2011 - 3:36am
Bio-Medicine.Org

INDIANAPOLIS, April 18, 2011 /PRNewswire/ --

First quarter 2011 revenue grew 6 percent to $5.8 billion, driven by increased demand in international markets.Company delivered first quarter earnings per share of $.95 (reported), or $1.24 (non-GAAP).2011 non-GAAP earnings per share guidance range unchanged at $4.15 - $4.30; reported earnings per share guidance range of $3.86 - $4.01 now reflects Q1 restructuring charge.

Eli Lilly and Company (NYSE: LLY) today announced financial results for the first quarter of 2011.$ in millions, except per share data

First Quarter

%20112010

GrowthTotal Revenue – Reported

$5,839.2$5,485.5

6%Net Income – Reported

1,055.91,248.1

(15)%EPS – Reported

0.951.13

(16)%Net Income – non-GAAP

1,374.91,297.6

6%EPS – non-GAAP

1.241.18

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.

"Lilly started the year by delivering solid financial results as we continue to advance the next wave of potential new medicines in our pipeline," said John C. Lechleiter, Ph.D., Lilly's chairman, president and chief executive officer. "Growth in international markets and the strong performance of Cymbalta, Alimta and our animal health business drove volume-based revenue growth of six percent, des

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