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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Mar. 31, 2017
Mar. 31, 2016
CONSOLIDATED STATEMENTS OF OPERATIONS        
Net sales $ 165,720 $ 163,712 $ 498,223 $ 397,204
Settlement agreement (4,000) (23,598) (4,000) (23,598)
Total net sales 161,720 140,114 494,223 373,606
Cost of sales 81,553 75,345 227,527 155,964
Amortization of intangibles 7,737 7,278 24,361 11,079
Gross profit 72,430 57,491 242,335 206,563
Operating expenses:        
Research and development expenses 8,340 16,495 30,650 32,092
Selling, general and administrative expenses 17,629 16,157 56,958 46,359
Acquisition and integration-related expenses 1,256 1,473 3,674 23,000
Restructuring expenses 1,568 4,749 5,332 4,749
Intangible asset impairment charges     88,084  
Total operating expenses 28,793 38,874 184,698 106,200
Operating income 43,637 18,617 57,637 100,363
Other income (loss):        
Investment income 1,037 204 3,085 69
Interest expense (22,373) (26,988) (68,700) (38,820)
Other (35) (46) (298) (76)
Total other loss (21,371) (26,830) (65,913) (38,827)
Income (loss) before income tax 22,266 (8,213) (8,276) 61,536
Income tax expense (benefit) 7,337 (2,743) (2,003) 20,270
Net income (loss) 14,929 (5,470) (6,273) 41,266
Less: Net income attributable to noncontrolling interest   20 34 55
Net income (loss) attributable to Lannett Company, Inc. $ 14,929 $ (5,490) $ (6,307) $ 41,211
Earnings (loss) per common share attributable to Lannett Company, Inc.:        
Basic (in dollars per share) $ 0.41 $ (0.15) $ (0.17) $ 1.13
Diluted (in dollars per share) $ 0.40 $ (0.15) $ (0.17) $ 1.10
Weighted average common shares outstanding:        
Basic (in shares) 36,849,208 36,495,961 36,785,829 36,398,030
Diluted (in shares) 37,752,304 36,495,961 36,785,829 37,383,742