8-KEarnings & ResultsExhibits & Filings

ELI LILLY & Co 8-K Report, Financial Results (Apr 18, 2011)

Filed April 18, 2011For Securities:LLY

Summary

Eli Lilly and Company (LLY) filed an 8-K on April 18, 2011, to report its first-quarter 2011 financial results. The report highlights the company's use of non-GAAP financial measures to provide a clearer view of ongoing operations, excluding significant one-time items such as in-process research and development (IPR&D) charges and restructuring costs. These adjustments aim to offer investors a more meaningful comparison of performance between periods and insight into operational trends.

Key Highlights

  • 1Eli Lilly reported its Q1 2011 financial results via press release and investor teleconference.
  • 2The company utilized non-GAAP financial measures (e.g., non-GAAP net income, EPS) for reporting, excluding specific one-time charges.
  • 3Excluded items for Q1 2011 included IPR&D charges from the Boehringer Ingelheim diabetes collaboration and restructuring charges.
  • 4Excluded items for Q1 2010 included IPR&D charges from an Acrux in-licensing transaction and restructuring charges.
  • 5The report quantified the impact of foreign exchange rates and U.S. healthcare reform on Q1 2011 results.
  • 6Lilly provided 2011 financial expectations, including both GAAP and non-GAAP earnings per share guidance, considering the impact of U.S. healthcare reform.

Frequently Asked Questions

Eli Lilly uses non-GAAP financial measures to provide investors with a clearer view of its ongoing operational performance. These measures exclude items that are highly variable, difficult to predict, and can significantly impact reported results, such as in-process R&D charges and restructuring costs. The company believes these adjustments help in making more meaningful period-over-period comparisons and identifying underlying operational trends.

For Q1 2011, excluded items included in-process research and development charges related to the diabetes collaboration with Boehringer Ingelheim and restructuring charges for severance costs. For Q1 2010, excluded items were in-process research and development charges from an in-licensing transaction with Acrux and restructuring charges.

Yes, the filing states that Eli Lilly quantified the impact of U.S. healthcare reform on its first-quarter 2011 results and included its estimated impact in the company's 2011 financial expectations.