Stock News Summary: Lannett Company, Inc. (NYSE:LCI)

Lannett Company, Inc. (NYSE:LCI) spotted trading -28.54% off 52-week high price. On the other end, the stock has been noted 233.03% away from the low price over the last 52-weeks. The stock changed -3.31% to recent value of $11.09. The stock transacted 1673793 shares during most recent day however it has an average volume of 2259.56K shares. The company has 39.26M of outstanding shares and 30.8M shares were floated in the market

Lannett Company, Inc. (LCI) recently stated financial results for its fiscal 2019 fourth quarter and full year ended June 30, 2019.

For the fiscal 2019 fourth quarter, on a GAAP basis, net sales were $133.8M contrast with $170.9M for the fourth quarter of fiscal 2018.  Gross profit was $49.3M, or 37% of total net sales, contrast with $66.5M, or 39% of total net sales.  Research and development (R&D) expenses were $9.4M contrast with $8.3M for the fiscal 2018 fourth quarter.  Selling, general and administrative (SG&A) expenses were $22.2M contrast with $20.6M.  Restructuring expenses were $2.4M contrast with $4.1M.  Asset impairment charges were $5.9M contrast with $25.0M for the previous year fourth quarter.  Operating income increased to $9.4M from $8.6M.  Interest expense reduced to $20.2M from $21.2M for the fourth quarter of fiscal 2018.  Net loss was $7.6M, or $0.20 per share, contrast with $11.4M, or $0.30 per share, for the fiscal 2018 fourth quarter.

For the fiscal 2019 fourth quarter stated on a Non-GAAP basis, net sales were $133.8M contrast with $170.9M for the fourth quarter of fiscal 2018.  Adjusted gross profit was $59.8M, or 45% of adjusted net sales, contrast with $76.0M, or 44% of adjusted net sales, for the prior-year fourth quarter.  Adjusted R&D expenses were $8.6M contrast with $8.3M.  Adjusted SG&A expenses were $17.0M contrast with $17.4M.  Adjusted operating income was $34.1M contrast with $50.3M for the prior-year fourth quarter.  Adjusted interest expense was $16.0M contrast with $16.6M for the fourth quarter of fiscal 2018.  Adjusted net income was $14.7M, or $0.37 per diluted share, contrast with $24.5M, or $0.64 per diluted share, for the fiscal 2018 fourth quarter.

For the fiscal 2019 full year, on a GAAP basis, net sales were $655.4M contrast with $684.6M for the fiscal 2018 full year.  Gross profit was $243.6M, or 37% of total net sales, contrast with $288.7M, or 42% of total net sales.  R&D expenses were $38.8M contrast with $29.2M for the fiscal 2018 full year.  SG&A expenses were $87.6M contrast with $82.2M.  Restructuring expenses were $4.1M contrast with $7.1M.  The company stated operating loss of $262.3M, which included asset impairment charges of $375.4M.  This compares to fiscal 2018 full year operating income of $129.7M, which included asset impairment charges of $25.0M and a loss on sale of intangible asset of $15.5M.  Interest expense reduced to $84.6M from $85.6M.  Net loss was $272.1M, or $7.20 per share, versus net income of $28.7M, or $0.75 per diluted share, for fiscal 2018.

Its earnings per share (EPS) expected to touch remained -839.10% for this year while earning per share for the next 5-years is expected to reach at 15.00%. LCI has a gross margin of 37.20% and an operating margin of -40.10% while its profit margin remained -41.50% for the last 12 months.   According to the most recent quarter its current ratio was 2.7 that represent company’s ability to meet its current financial obligations. The price moved ahead of -10.35% from the mean of 20 days, 24.41% from mean of 50 days SMA and performed 48.79% from mean of 200 days price. Company’s performance for the week was -17.30%, 83.91% for month and YTD performance remained 123.59%.

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