Lannett (LCI) Tops Q2 EPS by 1c, Reaffirms FY Guidance

Lannett (NYSE: LCI) reported Q2 EPS of $0.95, $0.01 better than the analyst estimate of $0.94. Revenue for the quarter came in at $127.1 million versus the consensus estimate of $127.2 million.Lannett reaffirmed FY2016 guidance.

Based on its current outlook the company reiterated its financial guidance for the fiscal 2016 full year as follows:

Net sales in the range of $585 million to $595 million;
Adjusted gross margin as a percentage of net sales of approximately 62% to 63%;
Adjusted R&D expense in the range of $49 million to $51 million;
Adjusted SG&A expense ranging from $59 million to $61 million;
Adjusted interest expense in the range of $50 million to $53 million;
The adjusted effective tax rate for the full year in the range of 34% to 35%; and
Capital expenditures in fiscal 2016 in the range of $35 million to $45 million.

For earnings history and earnings-related data on Lannett (LCI) click here.

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