LANNETT CO INC LCI Income Statement

Lannett co inc (LCI)

Income statement / TTM

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
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-
Unrealized gain (loss) on investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	-	-
Settlement agreement
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-
Net sales
0	0	-	-	0	0	-	684,563	652,770	640,104	626,743	633,341	663,110	641,504	597,619	542,493	472,882	432,120	419,883	406,837	388,180	368,825	321,329	273,771	233,326	192,351	161,589	151,054	146,570	138,236	129,406	122,990	112,807	108,011	110,317	106,835	0	0	0
Net sales
-	-	0	-	-	-	0	-	-	-	-	-	0	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cost of sales
0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cost of sales
-	-	-	-	-	-	-	363,729	340,006	322,523	308,763	300,030	308,934	302,726	279,372	237,371	183,214	131,563	107,363	100,344	96,361	96,532	95,216	97,839	99,543	99,530	96,389	93,634	93,917	89,341	85,969	84,043	81,636	82,458	84,356	83,515	0	0	0
Amortization of intangibles
31,407	30,997	31,001	32,196	32,443	32,830	32,614	32,128	31,708	31,152	30,948	32,098	31,911	31,452	27,329	18,629	11,155	3,897	304	137	0	0	0	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-
JSP contract renewal cost
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	20,100	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Product royalties
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0
Gross profit
174,970	198,611	227,127	243,610	260,796	262,536	280,176	288,706	281,056	286,429	287,032	301,213	322,265	307,326	290,918	286,493	278,513	296,660	312,216	306,356	290,334	270,828	224,669	154,408	113,683	72,721	45,100	57,420	54,230	49,951	43,957	38,947	30,689	25,102	26,032	23,320	0	0	0
Operating expenses:
Research and development expenses
32,723	35,120	37,937	38,807	37,706	30,598	31,597	29,196	32,284	37,894	37,111	42,073	43,612	51,767	50,897	45,054	39,076	31,740	30,507	30,342	29,958	31,382	29,331	27,713	24,801	19,447	17,234	16,253	16,559	14,241	13,182	11,844	10,879	9,822	8,970	8,587	0	0	0
Selling, general and administrative expenses
83,090	82,592	88,368	87,648	85,987	78,450	83,746	82,196	78,162	81,679	71,255	73,477	78,924	77,452	74,049	68,325	58,642	54,102	50,259	45,206	44,900	42,843	41,910	38,606	32,468	28,153	23,418	22,410	21,984	22,355	21,619	20,193	18,936	17,600	16,056	15,912	0	0	0
Acquisition and integration-related expenses
-	-	-	-	-	-	-	83	374	1,630	2,592	3,965	7,864	8,081	24,639	27,190	24,665	23,779	8,193	4,321	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restructuring expenses
4,179	4,440	4,461	4,095	5,765	6,734	7,556	7,061	4,819	4,966	5,643	7,168	10,081	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on sale of intangible asset
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Intangible asset impairment charges
-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Asset impairment charges
21,489	7,500	7,500	375,381	0	0	0	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating expenses
141,481	129,652	138,266	505,931	523,917	525,755	532,937	159,010	131,153	126,169	139,601	214,767	234,233	244,314	231,887	155,735	127,132	109,621	88,959	79,869	77,514	76,294	71,311	66,319	57,269	47,600	40,652	38,663	0	0	0	-	-	-	-	-	-	-	-
Operating income (loss)
33,489	68,959	88,861	-262,321	-263,121	-263,219	-252,761	129,696	149,903	160,260	147,431	86,446	88,032	63,012	59,031	130,758	151,381	187,039	223,257	226,487	212,820	194,534	153,358	88,089	56,414	25,121	4,448	18,757	15,687	13,355	9,156	6,910	873	-2,320	1,005	-1,179	0	0	0
Other income (loss):
Loss on extinguishment of debt
-2,558	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investment income
2,858	3,390	3,516	3,166	2,405	2,199	3,968	4,753	4,891	5,209	3,905	3,768	3,384	2,551	2,505	368	61	643	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Foreign currency gain (loss)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	3	-53	-56	-64	-62	-4	0	9	7	0	0	0
Gain on sale of assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	5	98	-21	111	51	-42	67	4	-13	-12	0	-	0	0	-
Gain (loss) on investment securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	1,621	1,959	928	699	0	0	0	-	-	-	-	206	0	0	0
Interest and dividend income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	236	149	127	116	109	115	124	142	168	164	132	91	0	0	0
Interest expense
72,357	77,665	82,483	84,624	85,624	86,981	86,155	85,634	85,160	84,691	87,338	89,420	95,817	100,432	88,871	65,937	38,908	11,928	229	207	132	137	110	130	174	220	246	251	253	258	259	273	253	217	220	214	0	0	0
Other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
-790	-811	-788	-2,018	-1,604	-1,865	2,233	2,278	2,527	3,154	-498	-244	947	936	1,172	-1	-2,004	-2,000	-1,257	12	990	1,329	1,641	1,931	1,602	1,899	788	1,928	1,675	1,508	2,248	-292	637	232	-488	478	0	0	0
Total other loss
-72,469	-77,679	-82,348	-83,924	-85,236	-86,647	-79,954	-78,603	-77,742	-76,328	-83,931	-85,896	-92,743	-82,199	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (loss) before income tax
-38,980	-8,720	6,513	-346,245	-348,357	-349,866	-332,715	51,093	72,161	83,932	63,500	550	-7,633	-38,112	-30,342	62,179	112,719	175,165	222,923	227,422	213,810	195,863	154,999	90,020	58,016	27,020	5,236	20,685	17,362	14,863	11,404	6,618	1,510	-2,088	516	-701	0	0	0
Income tax expense (benefit)
-7,729	-4,706	3,249	-74,138	-72,477	-76,111	-60,620	22,403	26,386	35,998	21,402	1,097	-4,951	-15,031	-12,615	17,322	37,492	58,208	74,685	77,430	74,227	69,534	56,899	32,857	20,788	8,835	784	7,303	6,165	5,895	4,665	2,600	772	-734	140	-461	0	0	0
Net income (loss)
-	-	-	-	-	-	-	-	-	-	-	-547	-2,682	-23,081	-17,727	44,857	75,227	116,957	148,238	149,992	139,583	126,329	98,100	57,163	37,228	18,185	4,452	13,382	11,197	8,968	6,739	4,018	737	-1,353	376	-240	0	0	0
Less: Net income attributable to noncontrolling interest
-	-	-	-	-	-	-	-	-	-	-	34	54	74	80	75	73	80	70	73	72	56	72	62	99	104	56	65	28	28	71	70	-4	-16	-30	-37	0	0	0
Net income (loss)
-31,251	-4,014	3,264	-272,107	-275,880	-273,755	-272,095	28,690	45,775	47,934	42,084	-581	-2,736	-23,155	-17,807	44,782	75,154	116,877	148,168	149,919	139,511	126,273	98,028	57,101	37,129	18,081	4,396	13,317	11,169	8,940	6,668	3,948	668	-1,411	332	-277	0	0	0
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