LCI

Lannett beats by $0.13, beats on revs; guides FY17 revs above consensus  (32.32 +0.89)
8/23/2016, 4:21:00 PM ET
  • Reports Q4 (Jun) earnings of $0.73 per share, excluding non-recurring items, $0.13 better than the Capital IQ Consensus of $0.60; revenues rose 70.1% year/year to $168.9 mln vs the $161.56 mln Capital IQ Consensus.
    • Gross profit as a percentage of net sales was 47% compared with 72% in last year’s fourth quarter, primarily due to the inclusion of KU’s lower-margin business, as well as amortization of acquired intangible assets and other purchase accounting related expenses.
  • Co issues upside guidance for FY17, sees FY17 revs of $690-700 mln vs. $665.94 mln Capital IQ Consensus Estimate.
  • Sees FY17 adj gross margin between 55-56%
  • Courtesy of Briefing.com

Back in late March we bought LCI at $17.11.

With this report LCI is a double because it crossed $37.00 in the after market.

With the FDA approvals they have received and more to come in the future they could  break their previous high of $72.44 in a year or so.

 

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