Eli Lilly Posts a Net Loss on Tax Expense
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Eli Lilly and Co.  on Wednesday reported a fourth-quarter net loss on charges for restructuring and taxes related to the return of overseas profits as sales of prescription drugs rose only slightly.
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NEW YORK, December 9  - Eli Lilly and Co (LLY.NYS) guided to earnings growth in 2005 today, driven by the accelerating sales of its newer drugs.
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Intuit Inc. INTU.O, maker of  the No. 1 U.S. tax presentation software TurboTax, on Wednesday  posted a wider quarterly loss after taking a goodwill  impairment charge during its seasonally weaker fourth quarter.
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Financial services and insurance company Cincinnati Financial Corp. estimated pretax losses of $89 million, or 34 cents a share after tax, from catastrophic events in the third quarter, excluding Hurricane Jeanne.
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Drug maker Schering-Plough Corp  on Tuesday reported a fourth-quarter loss as special charges from its acquisition of Organon Biosciences late last year offset sharply higher sales.
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OSI Pharmaceuticals Inc. on Monday posted a wider loss for the year ended Sept. 30, hurt by greater research and development costs and one-time charges during the period.
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The chip maker reported a larger-than-expected loss but showed progress in curbing its expenses and capturing a share of strong demand for personal computers.
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AT&T Corp. on Thursday reported a net loss of $7.1 billion, or $8.95 per share, for the third quarter of 2004, but that loss included asset re-evaluation and other charges of $12.5 billion.
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Drugmaker Eli Lilly and Co.  on Wednesday said its restructuring will result in a fourth-quarter charge of 24 cents to 27 cents per share, above its previous estimate of 19 to 24 cents per share.
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Eli Lilly and Co. LLY.N on Thursday  said it expects earnings in 2005 to rise to between $3.05 and  $3.15 per share before special items as growing sales of newer  medicines more than offset disappointing sales of its  top-selling schizophrenia drug.
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Eli Lilly and Co.  forecast profit gains next year below its expected 2006 growth of 8 percent to 12 percent, held back by higher costs.
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The company reported a second-quarter loss after the company cut jobs to compensate for declining sales.
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Eli Lilly and Co  on Tuesday said fourth-quarter profit rose on lower taxes and better-than-expected sales of its medicines, including newer treatments for depression, diabetes and cancer.
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Intuit Inc., the maker of TurboTax tax-preparation software and QuickBooks accounting programs, posted a wider loss in its latest quarter on acquisition-related expenses.
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KB Home , a leading U.S. home builder, posted a quarterly net loss on Tuesday as it took $343.3 million of pretax charges for abandoning land option contracts and writing down the value of inventory, a consequence of the U.S. housing market downturn.
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Bristol-Myers Squibb Co  reported a quarterly loss on Thursday due to special charges, including a $275 million write-down from the credit crisis spreading through corporate America.
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Department store operator Bon-Ton  Stores Inc.  on Wednesday reported a wider quarterly  loss, hurt by an income tax charge, but reaffirmed its fiscal  year earnings forecast.