Lannett Co Inc (AMEX:LCI) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 2.28%.
Lannett Co Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 133.33% to $0.14 in the quarter versus EPS of $0.06 in the year-earlier quarter.
Revenue: Rose 27.08% to $39 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Lannett Co Inc reported adjusted EPS income of $0.14 per share. By that measure, the company beat the mean analyst estimate of $0.03. It beat the average revenue estimate of $35.14 million.
Quoting Management: “Our fiscal 2013 third quarter net sales and net income were the highest in the company’s history,” said Arthur Bedrosian, president and chief executive officer of Lannett. “Our performance reflected continued solid sales from our base products, combined with strong sales of recently approved products. Gross margin percentage increased due to favorable sales mix and price increases, as well as enhanced manufacturing efficiencies related to higher sales volume. With 15 product applications currently pending at the FDA and our ramped up investment in product development, we believe we are well-positioned for continued positive results.”
Key Stats (on next page)…