Summary
Eli Lilly and Company (LLY) issued an 8-K filing on August 9, 2012, primarily to update its financial guidance for the full year 2012. The company provided revised projections based on the actual performance in the first two quarters of 2012 and the full year 2011. This update is crucial for investors seeking to understand the company's projected financial trajectory and performance expectations. The filing also highlights Lilly's use of non-GAAP financial measures, such as non-GAAP earnings per share, to provide a clearer view of ongoing operational performance. These adjusted measures exclude items like early payment income from Amylin Pharmaceuticals revenue sharing, asset impairment charges related to Xigris withdrawal, restructuring charges, and in-process R&D charges. Lilly asserts that these non-GAAP figures help investors better evaluate operational trends and make meaningful period-over-period comparisons.
Key Highlights
- 1Eli Lilly & Co. updated its 2012 financial guidance in a press release dated August 9, 2012.
- 2The guidance update is based on final results for the first two quarters of 2012 and the full year 2011.
- 3The company utilizes non-GAAP financial measures, including non-GAAP earnings per share, for reporting and guidance.
- 4Adjustments to non-GAAP measures exclude items such as early Amylin revenue sharing payments, Xigris-related impairment charges, restructuring costs, and R&D charges.
- 5Lilly states that non-GAAP measures aid investors in evaluating ongoing operations and identifying trends.
- 6Management uses non-GAAP measures internally for performance evaluation and resource allocation.
- 7The information provided is furnished and not deemed filed for Section 18 purposes.