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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Mar. 31, 2016
Mar. 31, 2015
CONSOLIDATED STATEMENTS OF OPERATIONS        
Net sales $ 163,712 $ 99,352 $ 397,204 $ 307,561
Settlement agreement (23,598)   (23,598)  
Total net sales 140,114 99,352 373,606 307,561
Cost of sales 75,345 23,694 155,964 73,094
Amortization of intangibles 7,278 20 11,079 61
Gross profit 57,491 75,638 206,563 234,406
Operating expenses:        
Research and development expenses 16,495 9,159 32,092 23,358
Selling, general, and administrative expenses 16,157 11,617 46,359 32,923
Acquisition and integration-related expenses 1,473 587 23,000 2,656
Restructuring expenses 4,749   4,749  
Total operating expenses 38,874 21,363 106,200 58,937
Operating income 18,617 54,275 100,363 175,469
Other income (loss):        
Investment income (loss) 204 (8) 69 895
Interest expense (26,988) (8) (38,820) (119)
Other (46) (26) (76) (6)
Total other income (loss) (26,830) (42) (38,827) 770
Income (loss) before income tax (8,213) 54,233 61,536 176,239
Income tax expense (benefit) (2,743) 17,973 20,270 60,208
Net income (loss) (5,470) 36,260 41,266 116,031
Less: Net income attributable to noncontrolling interest 20 27 55 55
Net income (loss) attributable to Lannett Company, Inc. $ (5,490) $ 36,233 $ 41,211 $ 115,976
Earnings (loss) per common share attributable to Lannett Company, Inc.:        
Basic (in dollars per share) $ (0.15) $ 1.01 $ 1.13 $ 3.25
Diluted (in dollars per share) $ (0.15) $ 0.97 $ 1.10 $ 3.13
Weighted average common shares outstanding:        
Basic (in shares) 36,495,961 35,880,954 36,398,030 35,715,061
Diluted (in shares) 36,495,961 37,210,138 37,383,742 37,082,138