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PHILADELPHIA (AP) _ Lannett Co. (LCI) on Wednesday reported a fiscal second-quarter loss of $171.9 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Philadelphia-based company said it had a loss of $4.36. Earnings, adjusted for one-time gains and costs, came to 8 cents per share.
The results matched Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 8 cents per share.
The generic drug company posted revenue of $133.9 million in the period, surpassing Street forecasts. Three analysts surveyed by Zacks expected $130.1 million.
Lannett expects full-year revenue in the range of $480 million to $500 million.
Lannett shares have climbed 15% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $7.48, a decline of 12% in the last 12 months.