LANNETT CO INC LCI Income Statement

Lannett co inc (LCI)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10
Realized gain on investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	361	27	-173	-	-	-	-
Unrealized gain (loss) on investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	105	675	-826	-	-17	-	-
Settlement agreement
-	-	-	-	-	-	-	-	-	-	-	-	4,000	-	-	-	23,598	-	-	-	-	-	-	-	-	-	-	-	0	0	-1,250	-	-	-	-	-	-	-	-
Net sales
144,372	136,110	-	-	172,794	193,718	-	170,911	174,386	184,305	154,961	139,118	161,720	170,944	161,559	168,887	140,114	127,059	106,433	99,276	99,352	114,822	93,387	80,619	79,997	67,326	45,829	40,174	39,022	36,564	35,294	35,690	30,688	27,734	28,878	25,507	25,892	30,039	25,395
Net sales
-	-	127,342	-	-	-	155,054	-	-	-	-	-	165,720	-	-	-	163,712	-	-	-	99,352	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cost of sales
94,380	86,663	77,656	-	99,571	115,751	87,690	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cost of sales
-	-	-	-	-	-	-	96,226	99,036	88,914	79,553	72,503	81,553	75,154	70,820	81,407	75,345	51,800	28,819	27,250	23,694	27,600	21,800	23,267	23,865	26,284	24,423	24,971	23,852	23,143	21,668	25,254	19,276	19,771	19,742	22,847	20,098	21,669	18,900
Amortization of intangibles
8,316	8,153	7,028	7,910	7,906	8,157	8,223	8,157	8,293	7,941	7,737	7,737	7,737	7,737	8,887	7,550	7,278	3,614	187	76	20	21	20	-	-	-	-	-	-	-	-	-	471	470	468	-	-	-	-
JSP contract renewal cost
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	20,100	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	463	473	448
Product royalties
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	50	66	52	-	26	-460	143
Gross profit
41,676	41,294	42,658	49,342	65,317	69,810	59,141	66,528	67,057	87,450	67,671	58,878	72,430	88,053	81,852	79,930	57,491	71,645	77,427	71,950	75,638	87,201	71,567	55,928	56,132	41,042	1,306	15,203	15,170	13,421	13,626	12,013	10,891	7,427	8,616	3,755	5,303	8,356	5,903
Operating expenses:
Research and development expenses
7,441	6,906	8,940	9,436	9,838	9,723	9,810	8,335	2,730	10,722	7,409	11,423	8,340	9,939	12,371	12,962	16,495	9,069	6,528	6,984	9,159	7,836	6,363	6,600	10,583	5,785	4,745	3,688	5,229	3,572	3,764	3,994	2,911	2,513	2,426	3,029	1,854	1,660	2,042
Selling, general and administrative expenses
22,147	17,421	21,308	22,214	21,649	23,197	20,588	20,553	14,112	28,493	19,038	16,519	17,629	18,069	21,260	21,966	16,157	14,666	15,536	12,283	11,617	10,823	10,483	11,977	9,560	9,890	7,179	5,839	5,245	5,155	6,171	5,413	5,616	4,419	4,745	4,156	4,279	2,874	4,600
Acquisition and integration-related expenses
-	-	-	-	-	-	-	0	0	65	18	291	1,256	1,027	1,391	4,190	1,473	17,585	3,942	1,665	587	1,999	70	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restructuring expenses
191	192	1,388	2,408	452	213	1,022	4,078	1,421	1,035	527	1,836	1,568	1,712	2,052	-	4,749	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on sale of intangible asset
-	-	-	-	-	-	-	-	-15,514	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Intangible asset impairment charges
-	-	-	-	-	-	-	-	-	-	-	-	0	23,000	65,084	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Asset impairment charges
13,989	0	1,618	5,882	0	0	369,499	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating expenses
43,768	24,519	33,254	39,940	31,939	33,133	400,919	57,926	33,777	40,315	26,992	30,069	28,793	53,747	102,158	49,535	38,874	41,320	26,006	20,932	21,363	20,658	16,916	18,577	20,143	15,675	11,924	9,527	10,474	8,727	9,935	-	-	-	-	-	-	-	-
Operating income (loss)
-2,092	16,775	9,404	9,402	33,378	36,677	-341,778	8,602	33,280	47,135	40,679	28,809	43,637	34,306	-20,306	30,395	18,617	30,325	51,421	51,018	54,275	66,543	54,651	37,351	35,989	25,367	-10,618	5,676	4,696	4,694	3,691	2,606	2,364	495	1,445	-3,430	-830	3,821	-739
Other income (loss):
Loss on extinguishment of debt
0	0	-2,145	-	-413	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investment income
393	430	729	1,306	925	556	379	545	719	2,325	1,164	683	1,037	1,021	1,027	299	204	975	-1,110	-	-8	786	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Foreign currency gain (loss)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1	-	-	0	0	0	3	-56	-3	-8	5	1	1	1	2
Gain on sale of assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	20	-	0	7	-62	60	93	-112	70	0	0	-3	7	-	-17	1	-
Gain (loss) on investment securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15	-	200	1,102	463	-144	538	71	234	-	-	-	-	131	59	2	12
Interest and dividend income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	102	-	109	49	46	32	22	27	35	25	28	36	53	51	24	3	11
Interest expense
16,177	16,694	19,292	20,194	21,485	21,512	21,433	21,194	22,842	20,686	20,912	20,720	22,373	23,333	22,994	27,117	26,988	11,772	60	88	8	73	38	13	13	46	58	57	59	72	63	59	64	73	77	39	28	76	70
Other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	26	-	-	-	-	87	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
-380	-735	934	-609	-401	-712	-296	-195	-662	3,386	-251	54	-35	-266	3	1,245	-46	-30	-1,170	-758	-42	713	99	220	297	1,025	389	-109	594	-86	1,529	-362	427	654	-1,011	567	22	-67	-44
Total other loss
-16,164	-16,999	-19,774	-19,532	-21,374	-21,668	-21,350	-20,844	-22,785	-14,975	-19,999	-19,983	-21,371	-22,578	-21,964	-	-26,830	-10,827	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (loss) before income tax
-18,256	-224	-10,370	-10,130	12,004	15,009	-363,128	-12,242	10,495	32,160	20,680	8,826	22,266	11,728	-42,270	643	-8,213	19,498	50,251	51,183	54,233	67,256	54,750	37,571	36,286	26,392	-10,229	5,567	5,290	4,608	5,220	2,244	2,791	1,149	434	-2,863	-807	3,753	-783
Income tax expense (benefit)
-1,664	-5,308	1,787	-2,544	1,359	2,647	-75,600	-883	-2,275	18,138	7,423	3,100	7,337	3,542	-12,882	-2,948	-2,743	5,958	17,055	17,222	17,973	22,435	19,800	14,019	13,280	9,800	-4,242	1,950	1,327	1,749	2,277	812	1,057	519	212	-1,015	-449	1,393	-389
Net income (loss)
-	-	-	-	-	-	-	-	-	-	-	5,726	14,929	8,186	-29,388	3,591	-5,470	13,540	33,196	33,961	36,260	44,821	34,950	23,552	23,006	16,592	-5,987	3,617	3,963	2,859	2,943	1,432	1,734	630	222	-1,848	-357	2,359	-394
Less: Net income attributable to noncontrolling interest
-	-	-	-	-	-	-	-	-	-	-	0	0	14	20	20	20	20	15	18	27	10	18	17	11	26	8	54	16	-22	17	17	16	21	16	-57	4	6	9
Net income (loss)
-16,592	5,084	-12,157	-7,586	10,645	12,362	-287,528	-11,359	12,770	14,022	13,257	5,726	14,929	8,172	-29,408	3,571	-5,490	13,520	33,181	33,943	36,233	44,811	34,932	23,535	22,995	16,566	-5,995	3,563	3,947	2,881	2,926	1,415	1,718	609	206	-1,864	-362	2,353	-403
Earnings (loss) per common share:
Basic (in dollars per share)
-0.43	0.13	-0.32	-0.16	0.28	0.33	-7.65	-0.31	0.34	0.38	0.36	0.15	0.41	0.22	-0.80	0.10	-0.15	0.37	0.91	0.93	1.01	1.26	0.98	0.76	0.66	0.48	-0.20	0.13	0.14	0.10	0.10	0.05	0.06	0.02	0.01	-0.07	-0.01	0.09	-0.02
Diluted (in dollars per share)
-0.43	0.13	-0.32	-0.14	0.27	0.32	-7.65	-0.30	0.33	0.37	0.35	0.16	0.40	0.22	-0.80	0.10	-0.15	0.36	0.89	0.92	0.97	1.21	0.94	0.73	0.63	0.46	-0.20	0.12	0.14	0.10	0.10	0.05	0.06	0.02	0.01	-0.07	-0.01	0.09	-0.02
Weighted average common shares outstanding:
Basic (in shares)
38,707	38,605	38,309	37,929	37,842	37,761	37,586	37,313	37,136	37,066	36,992	36,891	36,849	36,810	36,699	36,575	36,495	36,388	36,310	36,159	35,880	35,669	35,597	35,364	35,025	34,677	29,586	28,754	28,490	28,347	28,278	27,523	28,571	28,526	28,431	28,340	28,373	25,420	24,899
Diluted (in shares)
38,707	40,557	38,309	35,089	39,330	39,112	37,586	38,342	38,287	38,290	37,730	35,122	37,752	37,676	36,699	38,258	36,495	37,388	37,414	37,251	37,210	37,074	36,972	38,141	36,769	36,276	29,586	29,735	29,115	28,450	28,469	27,453	28,719	28,773	28,686	27,987	28,373	25,773	24,899