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Lannett: Fiscal 3Q Earnings Snapshot

PHILADELPHIA (AP) _ Lannett Co. (LCI) on Monday reported fiscal third-quarter earnings of $10.6 million.

On a per-share basis, the Philadelphia-based company said it had net income of 27 cents. Earnings, adjusted for amortization costs and non-recurring costs, were 68 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.

The generic drug company posted revenue of $172.8 million in the period.

Lannett expects full-year revenue in the range of $640 million to $645 million.

Lannett shares have increased 83% since the beginning of the year. In the final minutes of trading on Monday, shares hit $9.06, a fall of 42% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LCI at https://www.zacks.com/ap/LCI