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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
CONSOLIDATED STATEMENTS OF OPERATIONS        
Net sales $ 127,059 $ 114,822 $ 233,492 $ 208,209
Cost of sales 51,800 27,600 80,619 49,400
Amortization of intangibles 3,614 21 3,801 41
Gross profit 71,645 87,201 149,072 158,768
Operating expenses:        
Research and development expenses 9,069 7,836 15,597 14,199
Selling, general, and administrative expenses 14,666 10,823 30,202 21,306
Acquisition-related expenses 17,585 1,999 21,527 2,069
Total operating expenses 41,320 20,658 67,326 37,574
Operating income 30,325 66,543 81,746 121,194
Other income (loss):        
Investment income (loss) 975 786 (135) 903
Interest expense (11,772) (73) (11,832) (111)
Other (30)   (30)  
Other       20
Total other income (loss) (10,827) 713 (11,997) 812
Income before income tax 19,498 67,256 69,749 122,006
Income tax expense 5,958 22,435 23,013 42,235
Net income 13,540 44,821 46,736 79,771
Less: Net income attributable to noncontrolling interest 20 10 35 28
Net income attributable to Lannett Company, Inc. $ 13,520 $ 44,811 $ 46,701 $ 79,743
Earnings per common share attributable to Lannett Company, Inc.:        
Basic (in dollars per share) $ 0.37 $ 1.26 $ 1.28 $ 2.24
Diluted (in dollars per share) $ 0.36 $ 1.21 $ 1.25 $ 2.15
Weighted average common shares outstanding:        
Basic (in shares) 36,388,542 35,669,904 36,349,597 35,633,917
Diluted (in shares) 37,388,450 37,074,024 37,401,878 37,025,667