Eli Lilly posts sales and EPS declines for 4th-qtr and full year 2012, but beats forecasts

US pharmaceutical major Eli Lilly (NYSE: LLY) revealed yesterday that fourth quarter 2012 revenue declined 1% to $5.96 billion, driven by Zyprexa (olanzapine) patent expiration, largely offset by growth in other products, but still beating analysts ‘average estimate of $5.8 billion. Full-year 2012 revenue declined 7% to $22.6 billion.

Fourth quarter earnings per share were $0.74 (down 2% reported), or $0.85 (2% lower non-GAAP), compared with the $0. 79 average of 17 analyst estimates compiled by Bloomberg. Full-year 2012 EPS totaled $3.66 (-23% reported), or $3.39 (-23% non-GAAP). Net income declined 4% to $827.2 million for the quarter and was down 6% at $4.09 billion for the full year.

Lilly increased its 2013 guidance by $0.07 per share to reflect the estimated benefit from the delayed enactment of the American Taxpayer Relief Act of 2012. 2013 earnings per share are now expected to be in the range of $4.10 to $4.25 (reported), or $3.82 to $3.97 (non-GAAP). The company still anticipates 2013 revenue of between $22.6 billion and $23.4 billion.