Company reports double-digit sales and earnings growth
INDIANAPOLIS, July 24 /PRNewswire-FirstCall/ -- Eli Lilly and Company (NYSE: LLY) today announced financial results for the second quarter of 2008.
Second-quarter results are presented on a reported basis. Reported results were prepared in accordance with generally accepted accounting principles (GAAP) and include all sales and expenses recognized by the company during the period. Year-to-date financial results are presented on both a reported and a pro forma basis. Pro forma results assume the ICOS acquisition was completed January 1, 2007. Pro forma results for the second quarter are not presented because the company completed the ICOS acquisition prior to second quarter of 2007.
-- Sales increased 11 percent, to $5.150 billion.
-- Products launched this decade - Alimta(R), Byetta(R), Cialis(R), Cymbalta(R), Forteo(R), Strattera(R), Symbyax(R), Xigris(R) and Yentreve(R) - collectively grew 21 percent, to $1.798 billion, and accounted for 35 percent of total sales, compared with 32 percent of total sales in the second quarter of 2007.
-- Net income and earnings per share grew to $958.8 million and $.88,
respectively, compared with second-quarter 2007 net income of $663.6
million and earnings per share of $.61.
Product Sales Highlights
(Dollars in millions) % Change % Change
Second Quarter (Under) Year-to-Date (Under)
2008 2007 2007 2008 2007 2007
|SOURCE Eli Lilly and Company|
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