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LANNETT INC   FYE=6 (June)

Annual - Income Statement - Company Specific

Fiscal period2020201920182017201620152014201320122011
Period End Date6/30/20206/30/20196/30/20186/30/20176/30/20166/30/20156/30/20146/30/20136/30/20126/30/2011
Net Sales545.74655.41684.56637.34566.09406.84273.77151.05122.99106.84
Settlement agreement------(4.00)(23.60)0.000.00------
Total Revenues545.74655.41684.56633.34542.49406.84273.77151.05122.99106.84
Cost of sales348.51379.60363.73300.03237.37100.3497.8493.6384.0483.52
Amortization of intangible assets32.0232.2032.1332.1018.630.141.42------
Product royalties--------------------
JSP contract renewal cost------------20.100.000.00--
Gross Profit165.22243.61288.71301.21286.49306.36154.4157.4238.9523.32
Amortization expense--------------------
Research and development expenses29.9838.8129.2042.0745.0530.3427.7116.2511.848.59
Selling, general, and administrative expenses79.4787.6582.2073.4868.3345.2138.6122.4120.1915.91
Restructuring expenses1.774.107.067.177.170.000.00------
Asset impairment charges(34.45)(375.38)(24.96)(88.08)------------
Gain (Loss) on Sale of Assets--------------------
Intangible assets impairment charge--------(8.00)--0.00------
Acquisition-related expenses----(0.08)(3.97)(27.19)(4.32)0.00------
Gain on investments----------------3.00--
Loss on sale of intangible asset----(15.51)--------------
Total Operating Expenses145.66505.93159.01214.77155.7479.8766.3238.6632.04--
Operating Income (Loss)19.56(262.32)129.7086.45130.76226.4988.0918.766.91(1.18)
Interest expense66.8584.6285.6389.4265.940.210.130.250.270.21
Loss on impairment of assets--------------------
Litigation settlement--------------(1.25)--0.00
Gain (loss) on sale of assets--------------0.110.00(0.02)
Interest and dividend income1.653.174.753.770.371.132.200.120.140.09
Realized (loss) gain on investments--------------0.70(0.10)0.21
Unrealized loss on investments--------------------
Other(0.84)(2.02)2.28(0.24)0.000.01(0.14)------
Foreign currency gain--------------0.00(0.06)0.01
Grant Income------------------0.41
Income from settlement of lawsuit--------------------
Loss on extinguishment of debt(2.15)(0.45)----(3.01)0.000.00------
Total other Income (Expense)(68.18)(83.92)(78.60)(85.90)(68.58)0.941.931.93(0.29)--
Income (Loss) Before Income Tax (Benefit) Expense(48.63)(346.25)51.090.5562.18227.4290.0220.696.62(0.70)
Current : Federal(7.08)13.19(9.44)0.7634.9380.1241.505.911.51(3.18)
Deferred : Federal(6.53)(85.02)31.26(2.21)(17.53)(5.25)(11.61)0.220.832.62
Income tax (benefit) expense(15.26)(74.14)22.401.1017.3277.4332.867.302.60(0.46)
Current : State and local taxes0.41(0.08)1.150.641.890.574.250.610.01(0.13)
Deferred : State and local taxes(2.06)(2.22)(0.57)1.91(1.97)1.98(1.27)0.570.250.23
Provision (benefit) for income taxes : Current--------------------
Provision (benefit) for income taxes : Deferred--------------------
Consolidated Net Income (loss)(33.37)(272.11)28.69(0.55)44.86149.9957.1613.384.02(0.24)
Less: Income attributable to noncontrolling interest------0.030.080.070.060.070.070.04
Net Income (loss) Available to Common Shareholders(33.37)(272.11)28.69(0.58)44.78149.9257.1013.323.95(0.28)
Net Earnings Per Share (Basic)(0.86)(7.20)0.77(0.02)1.234.181.700.470.14(0.01)
Net Earnings Per Share (Diluted)(0.86)(7.20)0.75(0.02)1.204.041.620.460.14(0.01)
Weighted Average Shares Outstanding (Basic)38.5937.7837.1336.8136.4435.8333.6628.4728.2626.76
Weighted Average Shares Outstanding (Diluted)38.5937.7838.1636.8137.3937.1335.1928.9428.4126.76