XML 14 R4.htm IDEA: XBRL DOCUMENT v3.6.0.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2016
Dec. 31, 2015
CONSOLIDATED STATEMENTS OF OPERATIONS        
Net sales $ 170,944 $ 127,059 $ 332,503 $ 233,492
Cost of sales 75,154 51,800 145,974 80,619
Amortization of intangibles 7,737 3,614 16,624 3,801
Gross profit 88,053 71,645 169,905 149,072
Operating expenses:        
Research and development expenses 9,939 9,069 22,310 15,597
Selling, general and administrative expenses 18,069 14,666 39,329 30,202
Acquisition and integration-related expenses 1,027 17,585 2,418 21,527
Restructuring expenses 1,712   3,764  
Intangible assets impairment charges 23,000   88,084  
Total operating expenses 53,747 41,320 155,905 67,326
Operating income 34,306 30,325 14,000 81,746
Other income (loss):        
Investment income (loss) 1,021 975 2,048 (135)
Interest expense (23,333) (11,772) (46,327) (11,832)
Other (266) (30) (263) (30)
Total other loss (22,578) (10,827) (44,542) (11,997)
Income (loss) before income tax 11,728 19,498 (30,542) 69,749
Income tax expense (benefit) 3,542 5,958 (9,340) 23,013
Net income (loss) 8,186 13,540 (21,202) 46,736
Less: Net income attributable to noncontrolling interest 14 20 34 35
Net income (loss) attributable to Lannett Company, Inc. $ 8,172 $ 13,520 $ (21,236) $ 46,701
Earnings (loss) per common share attributable to Lannett Company, Inc.:        
Basic (in dollars per share) $ 0.22 $ 0.37 $ (0.58) $ 1.28
Diluted (in dollars per share) $ 0.22 $ 0.36 $ (0.58) $ 1.25
Weighted average common shares outstanding:        
Basic (in shares) 36,810,388 36,388,542 36,754,828 36,349,597
Diluted (in shares) 37,676,370 37,388,450 36,754,828 37,401,878