Lilly says generic competition to Zyprexa hurt fourth-quarter profit as sales slide 49pc
Eli Lilly and Co said yesterday that fourth-quarter profit fell as competition from generic drugs, particularly for its once top-selling schizophrenia drug Zyprexa, drove revenue lower. The US drugmaker earned $827m (£525m), or 74 cents per share, down from $858m, or 77 cents per share, a year earlier. Excluding special items such as asset impairments and restructuring, Lilly earned 85 cents per share, beating analysts' expectations by seven cents per share. Zyprexa, now facing generic competition, saw sales slide 49 per cent to $385m from $750m year earlier.
Harley-Davidson revs up margin target as factory revamp kicks in to help meet demand
Harley-Davidson said yesterday it expects profit margins to rise this year as the US motorcycle maker begins to benefit from a revamp of its factories to allow them to react more quickly to shifts in demand. Harley forecast that 2013 operating margin would rise to between 35.25 per cent and 36.25 per cent of sales, up from 34.8 per cent last year. The company said profit was $70.6m (£44.8m), or 31 cents per share, compared with $105.7m, or 46 cents per share a year ago, when it booked a 22-cent tax benefit related to the 2010 sale of Italian motorcycle unit MV Augusta.
Lexmark forecasts current-quarter income below estimates after exiting inkjet business
Printer maker Lexmark International yesterday forecast current-quarter profit below analysts’ estimates after reporting fourth-quarter earnings that missed expectations. The company expects “a continued negative impact” in the current quarter from its decision to exit its low-margin inkjet printers business. Lexmark forecast first-quarter adjusted earnings of between 80 cents and 90 cents per share. It expects revenue to decline 11 per cent to 13 per cent from a year earlier. Net income fell to $6.3m (£4m) in the fourth quarter from $69.3m a year earlier.
Tupperware profits boxed in due to higher charges despite quarterly jump in revenues
Tupperware Brands posted a 14 per cent drop in fourth-quarter earnings yesterday as higher corporate charges masked a 5.2 per cent rise in revenue. European sales dropped slightly by 1.7 per cent but its US beauty business saw a 7.8 per cent spike in sales. The firm said profits came in at $74.5m (£47.3m) down from $86.9m last year. “I am pleased with our fourth-quarter results,” chairman and chief executive of Tupperware Rick Goings said. “When we look across our markets, we see a balanced portfolio.”
Jones Lang LaSalle posts record revenue for 2012 led by late surge at the end of the year
Property giant Jones Lang LaSalle yesterday reported record revenues for 2012. The US firm, which has a strong UK presence, posted a 12 per cent rise in full year revenues in local currency up to $3.9bn (£2.3bn). This fed a surge in annual earnings per share to $5.48 up from $4.83 last year. Chief executive Colin Dyer said: “Our 2012 performance met our expectations, with a strong finish to the year in challenging global markets. Again, we continue to secure market share growth, productivity improvements and expanded client relationships.”