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Quarterly Financial Information (Unaudited) (Tables)
 12 Months Ended
Jun. 30, 2018
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 2018

 

 

 

 

 

 

 

 

 

Net sales

 

$
170,911

 

$
174,386

 

$
184,305

 

$
154,961

 

Cost of sales

 
104,383

 
107,329

 
96,855

 
87,290

 

 

 

 

 

 

 

 

 

 

 

Gross profit

 
66,528

 
67,057

 
87,450

 
67,671

 

Operating expenses

 
57,926

 
33,777

 
40,315

 
26,992

 

 

 

 

 

 

 

 

 

 

 

Operating income

 
8,602

 
33,280

 
47,135

 
40,679

 

Other loss

 
(20,844

)
(22,785

)
(14,975

)
(19,999

)

Income tax expense (benefit)

 
(883

)
(2,275

)
18,138

 
7,423

 

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

 

$
(11,359

)

$
12,770

 

$
14,022

 

$
13,257

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

Basic

 

$
(0.30

)

$
0.34

 

$
0.38

 

$
0.36

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted

 

$
(0.30

)

$
0.33

 

$
0.37

 

$
0.35

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fourth

 

Third

 

Second

 

First

 

(In thousands, except per share data)

 

Quarter

 

Quarter

 

Quarter

 

Quarter

 

Fiscal 2017

 

 

 

 

 

 

 

 

 

Net sales

 

$
139,118

 

$
165,720

 

$
170,944

 

$
161,559

 

Settlement agreement

 

—

 
(4,000

)

—

 

—

 

 

 

 

 

 

 

 

 

 

 

Total net sales

 
139,118

 
161,720

 
170,944

 
161,559

 

Cost of sales

 
80,240

 
89,290

 
82,891

 
79,707

 

 

 

 

 

 

 

 

 

 

 

Gross profit

 
58,878

 
72,430

 
88,053

 
81,852

 

Operating expenses

 
30,069

 
28,793

 
53,747

 
102,158

 

 

 

 

 

 

 

 

 

 

 

Operating income (loss)

 
28,809

 
43,637

 
34,306

 
(20,306

)

Other loss

 
(19,983

)
(21,371

)
(22,578

)
(21,964

)

Income tax expense (benefit)

 
3,100

 
7,337

 
3,542

 
(12,882

)

Less: Net income attributable to noncontrolling interest

 

—

 

—

 
14

 
20

 

 

 

 

 

 

 

 

 

 

 

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

 

$
5,726

 

$
14,929

 

$
8,172

 

$
(29,408

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

Basic

 

$
0.16

 

$
0.41

 

$
0.22

 

$
(0.80

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted

 

$
0.15

 

$
0.40

 

$
0.22

 

$
(0.80

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fourth

 

Third

 

Second

 

First

 

(In thousands, except per share data)

 

Quarter

 

Quarter

 

Quarter

 

Quarter

 

Fiscal 2016

 

 

 

 

 

 

 

 

 

Net sales

 

$
168,887

 

$
163,712

 

$
127,059

 

$
106,433

 

Settlement agreement

 

—

 
(23,598

)

—

 

—

 

 

 

 

 

 

 

 

 

 

 

Total net sales

 
168,887

 
140,114

 
127,059

 
106,433

 

Cost of sales

 
88,957

 
82,623

 
55,414

 
29,006

 

 

 

 

 

 

 

 

 

 

 

Gross profit

 
79,930

 
57,491

 
71,645

 
77,427

 

Operating expenses

 
49,535

 
38,874

 
41,320

 
26,006

 

 

 

 

 

 

 

 

 

 

 

Operating income

 
30,395

 
18,617

 
30,325

 
51,421

 

Other loss

 
(29,752

)
(26,830

)
(10,827

)
(1,170

)

Income tax expense (benefit)

 
(2,948

)
(2,743

)
5,958

 
17,055

 

Less: Net income attributable to noncontrolling interest

 
20

 
20

 
20

 
15

 

 

 

 

 

 

 

 

 

 

 

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

 

$
3,571

 

$
(5,490

)

$
13,520

 

$
33,181

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

Basic

 

$
0.10

 

$
(0.15

)

$
0.37

 

$
0.91

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted

 

$
0.10

 

$
(0.15

)

$
0.36

 

$
0.89

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(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.