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news.As a result of the Zyprexa charges, on a reported basis Eli Lilly and Company has recorded a net loss of $465.6 million, or $0.43 per share, for the third quarter ended September 30, 2008, compared to a net income of $926.3 million and earnings per share of $0.85 for the same period of 2007.
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On a pro forma non-GAAP basis, the company recorded net income of $1.13 billion, or $1.04 per share in the third quarter of 2008, compared with third-quarter 2007 net income of $996.4 million, or $0.91 per share.
The company reported worldwide sales of $5.21 billion for the third quarter of 2008, a 14% increase when compared with the prior-year period.
For the first nine months of 2008, worldwide reported sales increased 13% and pro forma non-GAAP sales increased 12% to $15.17 billion, compared with sales for the same period in 2007. Reported net income and earnings per share were $1.56 billion and $1.42, respectively. On a pro forma non-GAAP basis, net income and earnings per share were $3.22 billion and $2.95, respectively.
John Lechleiter, president and CEO of Lilly, said: “In the third quarter, the underlying fundamentals of our business remained strong, highlighted by volume-driven sales growth and an expansion in gross margin. Our revised full-year earnings per share guidance reflect these strong fundamentals.”