PHILADELPHIA (AP) _ Lannett Co. (LCI) on Tuesday reported a loss of $7.6 million in its fiscal fourth quarter.
The Philadelphia-based company said it had a loss of 20 cents per share. Earnings, adjusted for one-time gains and costs, were 37 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.
The generic drug company posted revenue of $133.8 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $122 million.
For the year, the company reported a loss of $272.1 million, or $7.20 per share, swinging to a loss in the period. Revenue was reported as $655.4 million.
Lannett expects full-year revenue in the range of $525 million to $545 million.
Lannett shares have risen 22% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $6.03, a climb of 18% in the last 12 months.