Lannett (LCI) Reports In-Line Q2 EPS, Revenues Beat; Raises FY20 Revenue Outlook

Lannett (NYSE: LCI) reported Q2 EPS of $0.27, in-line with the analyst estimate of $0.27. Revenue for the quarter came in at $136.1 million versus the consensus estimate of $128.6 million.

"For our fiscal 2020 second quarter, strong sales across multiple product categories drove solid increases to our net sales and net income over our fiscal 2020 first-quarter results," said Tim Crew, chief executive officer of Lannett. "Our improved topline was due in part to the introduction of seven new products in the second quarter of fiscal 2020, as well as a full quarter of sales of Posaconazole. We plan to commence marketing an additional 10 or so products in the second half of the year, including Numbrino®, our recently approved, branded topical anesthetic product.

"We remain on track for launching a substantial number of new products in fiscal 2020. At the same time, we are making excellent progress advancing multiple products in our pipeline that have significant upside, as evidenced by the recent human pharmacokinetics and pharmacodynamics clinical trial that met all primary endpoints for our insulin glargine product."

GUIDANCE:

Lannett sees FY2020 revenue of $530-550 million, versus the consensus of $536.21 million.

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

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