US corporate profits continue to surprise on the upside. This is quite typical when the economy is in a rising phase as it is now. Two big global firms with headquarters in the mid-west reported better than expected profits today. Caterpillar Inc., the maker of huge earth-moving machines and based in Peoria, Illinois, said that profits in the last quarter quadrupled on a year before. Meanwhile, in Indianapolis, Indiana, Eli Lilly and Co, the big drug-maker reported net income of $1.17bn, up 28%. This major operator (even though it's only the 10th biggest of its kind) sells its wares in over 140 countries. Like most drugs firms it is suffering from a run-off of top-selling patents which are now expiring and being replaced by generics. Even so Eli Lilly has revenues of $24bn per annum, which is about the GDP of whole countries like Latvia or Jordan. The QSL is from WHRI World Harvest Radio in Noblesville, Indiana (just a few miles north of Indianapolis), heard on short-wave with a test broadcast in 1985.
Thursday 27 January 2011
Cat's and Lilly's in the pink
US corporate profits continue to surprise on the upside. This is quite typical when the economy is in a rising phase as it is now. Two big global firms with headquarters in the mid-west reported better than expected profits today. Caterpillar Inc., the maker of huge earth-moving machines and based in Peoria, Illinois, said that profits in the last quarter quadrupled on a year before. Meanwhile, in Indianapolis, Indiana, Eli Lilly and Co, the big drug-maker reported net income of $1.17bn, up 28%. This major operator (even though it's only the 10th biggest of its kind) sells its wares in over 140 countries. Like most drugs firms it is suffering from a run-off of top-selling patents which are now expiring and being replaced by generics. Even so Eli Lilly has revenues of $24bn per annum, which is about the GDP of whole countries like Latvia or Jordan. The QSL is from WHRI World Harvest Radio in Noblesville, Indiana (just a few miles north of Indianapolis), heard on short-wave with a test broadcast in 1985.
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