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

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Lannett Reports Fiscal 2016 Second Quarter Results

February 3, 2016 4:16 PM EST

PHILADELPHIA, Feb. 3, 2016 /PRNewswire/ -- Lannett Company, Inc. (NYSE: LCI) today reported financial results for its fiscal 2016 second quarter and first six months ended December 31, 2015.  As previously announced, the company completed the acquisition of Kremers Urban Pharmaceuticals Inc. (KU) on November 25, 2015.  Accordingly, fiscal 2016 second quarter and year-to-date financial results include the operations of KU since the acquisition date. 

For the fiscal 2016 second quarter, net sales increased to $127.1 million from $114.8 million in last year's second quarter.  Gross profit was $71.6 million, or 56% of net... More