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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Mar. 31, 2014
Mar. 31, 2013
CONSOLIDATED STATEMENTS OF OPERATIONS        
Net sales $ 79,997 $ 39,022 $ 193,152 $ 110,880
Cost of sales 23,865 23,852 74,572 68,663
JSP contract renewal cost     20,100  
Gross profit 56,132 15,170 98,480 42,217
Operating expenses:        
Research and development 10,583 5,229 21,113 12,565
Selling, general, and administrative 9,560 5,245 26,629 16,571
Total operating expenses 20,143 10,474 47,742 29,136
Operating income 35,989 4,696 50,738 13,081
Other income (expense):        
Foreign currency gain 1   1 3
Gain (loss) on sale of assets   93 (55) 51
Gain on investment securities 200 538 1,765 843
Litigation settlement       1,250
Interest and dividend income 109 22 204 84
Interest expense (13) (59) (117) (194)
Other     (87)  
Total other income 297 594 1,711 2,037
Income before income taxes 36,286 5,290 52,449 15,118
Income tax expense 13,280 1,327 18,838 5,353
Net income 23,006 3,963 33,611 9,765
Less: Net income attributable to noncontrolling interest 11 16 45 11
Net income attributable to Lannett Company, Inc. $ 22,995 $ 3,947 $ 33,566 $ 9,754
Earnings per common share attributable to Lannett Company, Inc.:        
Basic (in dollars per share) $ 0.66 $ 0.14 $ 1.01 $ 0.34
Diluted (in dollars per share) $ 0.63 $ 0.14 $ 0.97 $ 0.34
Weighted average common shares outstanding:        
Basic (in shares) 35,025,968 28,490,175 33,082,460 28,371,189
Diluted (in shares) 36,769,593 29,115,941 34,586,007 28,644,831