Lannett Co Inc Earnings: Here’s Why the Stock is Up Now
Lannett Co Inc (AMEX:LCI) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.91%.
Lannett Co Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 140% to $0.12 in the quarter versus EPS of $0.05 in the year-earlier quarter.
Revenue: Rose 12.64% to $40.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Lannett Co Inc reported adjusted EPS income of $0.12 per share. By that measure, the company beat the mean analyst estimate of $0.07. It beat the average revenue estimate of $37.89 million.
Quoting Management: “Our full year net income for fiscal 2013 was our highest in the company’s history,” said Arthur Bedrosian, president and chief executive officer of Lannett. “In addition, we reported record net sales for the fourth quarter and full year fiscal 2013. Our excellent financial performance was driven by sales growth across all of our key product categories, as well as a higher gross margin percentage due to favorable sales mix, price increases and enhanced manufacturing efficiencies.”
Key Stats (on next page)…