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Home Industry News Lilly’s revenue increases 5 pc

Lilly’s revenue increases 5 pc

21st April 2009

Lilly has achieved solid fiscal results for the first quarter of 2009, despite the economic downturn, it has asserted.

On a reported basis, total revenue increased by five per cent to $5.047 billion (3.46 billion pounds), while on a pro forma basis it grew three per cent.

Net income on a reported basis also increased from $1.064 billion in the first quarter of 2008 to $1.313 billion this year.

The pharmaceutical company’s good operational performance and strong finances were helped partly by exchange rates, noted Lilly’s chairman and chief executive officer John C Lechleiter.

He explained the strong dollar had improved the business’ gross margin percentage, adding revenue expansion included solid volume-based gains.

“These results, in combination with prudent expense management, helped us to achieve operating leverage and robust earnings per share growth,” said Mr Lechleiter.

Yesterday, Lilly announced dividends for the second quarter of 2009 would not change from the amount paid in the first three months of the year.

Payable on June 10th to those with recorded shares at the close of business on May 15th, the payment will be $0.49 a share on outstanding common stock.

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