Lannett revises FY16 revenue guidance below Capital IQ Consensus
- LCI issues downside FY16 guidance, seeing revenue of $555-$565 mln vs. $581.2 mln Capital IQ consensus.
- Sees adjusted gross margin as a percentage of net sales of approximately 60.5% to 61.5%.
- Sees adjusted R&D expense in the range of $48-$50 mln.
- Sees adjusted SG&A expense ranging from $59-$61 mln.
- Expects capital expenditures in the range of $30-$40 mln.
- Co states: “…we are experiencing softness in the generic drug market similar to that which a number of companies in our industry have recently reported. In our case, certain key products face competitive pressure. In addition, product launches anticipated in our fiscal 2016 third and fourth quarters will be temporarily delayed. Accordingly, we now expect our operating performance for the fiscal 2016 full year will be below our previous expectations
- Courtesy of Briefing.com