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Quarterly Financial Information (Unaudited) (Tables)
 12 Months Ended
Jun. 30, 2015
Quarterly Financial Information (Unaudited)  
Schedule of quarterly consolidated results of operations

 

 

Fourth

 

Third

 

Second

 

First

 

(In thousands, except per share data)

 

Quarter

 

Quarter

 

Quarter

 

Quarter

 

Fiscal 2015

 

 

 

 

 

 

 

 

 

Net sales

 

$
99,276

 

$
99,352

 

$
114,822

 

$
93,387

 

Cost of sales

 
27,326

 
23,714

 
27,621

 
21,820

 

 

 

 

 

 

 

 

 

 

 

Gross profit

 
71,950

 
75,638

 
87,201

 
71,567

 

Operating expenses

 
20,932

 
21,363

 
20,658

 
16,916

 

 

 

 

 

 

 

 

 

 

 

Operating income

 
51,018

 
54,275

 
66,543

 
54,651

 

Other income (loss)

 
165

 
(42

)
713

 
99

 

Income tax expense

 
17,222

 
17,973

 
22,435

 
19,800

 

Less: Net income attributable to noncontrolling interest

 
18

 
27

 
10

 
18

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to Lannett Company, Inc.

 

$
33,943

 

$
36,233

 

$
44,811

 

$
34,932

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per common share attributable to Lannett Company Inc. (1)

 

 

 

 

 

 

 

 

 

Basic

 

$
0.94

 

$
1.01

 

$
1.26

 

$
0.98

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted

 

$
0.91

 

$
0.97

 

$
1.21

 

$
0.94

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fourth

 

Third

 

Second

 

First

 

(In thousands, except per share data)

 

Quarter

 

Quarter

 

Quarter

 

Quarter

 

Fiscal 2014

 

 

 

 

 

 

 

 

 

Net sales

 

$
80,619

 

$
79,997

 

$
67,326

 

$
45,829

 

Cost of sales

 
24,691

 
23,865

 
26,284

 
44,523

 

 

 

 

 

 

 

 

 

 

 

Gross profit

 
55,928

 
56,132

 
41,042

 
1,306

 

Operating expenses

 
18,577

 
20,143

 
15,675

 
11,924

 

 

 

 

 

 

 

 

 

 

 

Operating income (loss)

 
37,351

 
35,989

 
25,367

 
(10,618

)

Other income

 
220

 
297

 
1,025

 
389

 

Income tax expense (benefit)

 
14,019

 
13,280

 
9,800

 
(4,242

)

Less: Net income attributable to noncontrolling interest

 
17

 
11

 
26

 
8

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to Lannett Company, Inc.

 

$
23,535

 

$
22,995

 

$
16,566

 

$
(5,995

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) per common share attributable to Lannett Company Inc. (1)

 

 

 

 

 

 

 

 

 

Basic

 

$
0.66

 

$
0.66

 

$
0.48

 

$
(0.20

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted

 

$
0.64

 

$
0.63

 

$
0.46

 

$
(0.20

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fourth

 

Third

 

Second

 

First

 

(In thousands, except per share data)

 

Quarter

 

Quarter

 

Quarter

 

Quarter

 

Fiscal 2013

 

 

 

 

 

 

 

 

 

Net sales

 

$
40,174

 

$
39,022

 

$
36,564

 

$
35,294

 

Cost of sales

 
24,971

 
23,852

 
23,143

 
21,668

 

 

 

 

 

 

 

 

 

 

 

Gross profit

 
15,203

 
15,170

 
13,421

 
13,626

 

Operating expenses

 
9,527

 
10,474

 
8,727

 
9,935

 

 

 

 

 

 

 

 

 

 

 

Operating income

 
5,676

 
4,696

 
4,694

 
3,691

 

Other income (loss)

 
(109

)
594

 
(86

)
1,529

 

Income tax expense

 
1,950

 
1,327

 
1,749

 
2,277

 

Less: Net income (loss) attributable to noncontrolling interest

 
54

 
16

 
(22

)
17

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to Lannett Company, Inc.

 

$
3,563

 

$
3,947

 

$
2,881

 

$
2,926

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per common share attributable to Lannett Company Inc. (1)

 

 

 

 

 

 

 

 

 

Basic

 

$
0.12

 

$
0.14

 

$
0.10

 

$
0.10

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted

 

$
0.12

 

$
0.14

 

$
0.10

 

$
0.10

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

Due to differences in weighted average common shares outstanding, quarterly earnings per share may not add up to the totals reported for the full fiscal year.