Lannett Company, Inc. (NYSE: LCI) today announced that it expects to
report fiscal 2015 first quarter net sales of approximately $93 million
and diluted earnings per share between $0.91 and $0.94. For the prior
year first quarter, the company recorded net sales of $45.8 million and
net loss attributable to Lannett of $6.0 million, or $0.20 per share,
which included a non-recurring pre-tax charge of $20.1 million related
to the contract extension with Jerome Stevens Pharmaceuticals, Inc.
(JSP). Adjusted net income, which excludes the impact of the JSP
contract renewal charge equal to $12.7 million after-tax, was $6.7
million, or $0.22 per diluted share.
for - Lannett Announces Preliminary Fiscal 2015 First Quarter Net Sales of Approximately $93 Million, EPS between $0.91 and $0.94 investment picks