Eli Lilly Misses By a Penny as Weak Dollar Pressures Gross Margins (LLY)

1/28/2010-Eli Lilly (NYSE:LLY) reported Q4 EPS of $0.91, missing consensus estimates by a penny.

Sales rose 14% year-over-year to $5.93 billion, and came in ahead of consensus estimates of $5.68 billion.

Gross margin as a percent of total revenue decreased by 6.6 percentage points, to 75.9 percent.

The company reconfirmed its 2010 EPS guidance of $4.65 - $4.85 (vs. consensus estimates of $4.73).

"Lilly's financial results in the fourth quarter completed a year of strong operational performance, highlighted by volume-based revenue gains, improved gross margins and quality earnings growth," said John C. Lechleiter Ph.D., Lilly's chairman and chief executive officer. "In 2009, we delivered solid financial results even as we continued to implement a series of actions aimed at speeding innovation to patients and delivering greater value to our customers. In 2010, we are well-positioned, through our new operating structure and development center of excellence, to maximize the value of our portfolio of products worldwide and advance the promising medicines currently in our clinical pipeline."