Lannett Co Inc (LCI) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
9000 STATE RD PHILADELPHIA, PA 19136 |
| State of Incorp. | DE |
| Fiscal Year End | June 30 |
| Industry (SIC) | 2834 - Pharmaceutical Preparations (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 3/31/2023 MRQ | 6/30/2022 | 6/30/2021 | 6/30/2020 | 6/30/2019 | 6/30/2018 | 6/30/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 87,854 | 93,286 | 144,329 | 140,249 | 98,586 | 144,828 | |||
| Cash and cash equivalents | 87,854 | 93,286 | 144,329 | 140,249 | 98,586 | 117,737 | |||
| Short-term investments | 27,091 | ||||||||
| Receivables | 93,034 | 133,884 | 140,107 | 164,752 | 252,651 | 204,066 | |||
| Inventory, net of allowances, customer advances and progress billings | 95,158 | 109,545 | 142,867 | 143,971 | 141,635 | 122,604 | |||
| Inventory | 95,158 | 109,545 | 142,867 | 143,971 | 141,635 | 122,604 | |||
| Prepaid expense | 15,159 | 16,703 | |||||||
| Asset, held-for-sale, not part of disposal group | 2,678 | 2,678 | 9,671 | 13,976 | |||||
| Other current assets | 14,070 | 14,170 | 13,227 | 13,606 | 4,863 | 6,592 | |||
| Deferred tax assets | ✕ | ✕ | ✕ | ✕ | 28,905 | ||||
| Total current assets: | 290,116 | 353,563 | 443,208 | 472,249 | 526,870 | 523,698 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 9,646 | 10,559 | 9,343 | ✕ | ✕ | ✕ | |||
| Nontrade receivables | |||||||||
| Property, plant and equipment | 133,178 | 166,674 | 179,518 | 186,670 | 233,247 | 243,148 | |||
| Intangible assets, net (including goodwill) | 32,179 | 137,835 | 374,735 | 411,229 | 763,991 | 793,427 | |||
| Goodwill | 339,566 | 339,566 | |||||||
| Intangible assets, net (excluding goodwill) | 32,179 | 137,835 | 374,735 | 411,229 | 424,425 | 453,861 | |||
| Deferred income tax assets | 117,890 | ✕ | ✕ | ✕ | |||||
| Other noncurrent assets | 19,316 | 15,106 | 11,861 | 7,960 | 29,133 | 19,191 | |||
| Deferred tax assets, net | ✕ | ✕ | ✕ | ✕ | 109,305 | 22,063 | 23,848 | ||
| Total noncurrent assets: | 194,319 | 330,174 | 693,347 | 715,164 | 1,048,434 | 1,079,614 | |||
| TOTAL ASSETS: | 484,435 | 683,737 | 1,136,555 | 1,187,413 | 1,575,304 | 1,603,312 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 61,746 | 53,342 | 63,801 | 39,222 | 72,011 | 62,052 | |||
| Employee-related liabilities | ✕ | 8,342 | 10,680 | 16,304 | 19,924 | 7,819 | 4,833 | ||
| Accounts payable | 29,737 | 29,585 | 32,535 | 13,493 | 56,767 | 44,720 | |||
| Accrued liabilities | 23,667 | 13,077 | 14,962 | 5,805 | 7,425 | 12,499 | |||
| Debt | 89,286 | 66,845 | 66,845 | 60,117 | |||||
| Restructuring reserve | 490 | 8 | 27 | 2,315 | 6,706 | 5,431 | |||
| Estimated litigation liability | 17,000 | ||||||||
| Other liabilities | 13,395 | 2,270 | 2,713 | 3,652 | |||||
| Other undisclosed current liabilities | 29,309 | 34,849 | 59,038 | 64,588 | 55,355 | 47,608 | |||
| Total current liabilities: | 104,940 | 90,469 | 214,865 | 176,622 | 200,917 | 192,208 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 624,942 | 601,730 | 602,784 | 662,203 | 772,425 | 843,530 | |||
| Long-term debt, excluding current maturities | 614,948 | 590,683 | 592,940 | 662,203 | 772,425 | 843,530 | |||
| Liabilities, other than long-term debt | 5,616 | 19,009 | 16,010 | 14,547 | 3,047 | 6,452 | |||
| Other liabilities | 5,616 | 19,009 | 16,010 | 14,547 | 3,047 | 6,452 | |||
| Operating lease, liability | 9,994 | 11,047 | 9,844 | ✕ | ✕ | ✕ | |||
| Total noncurrent liabilities: | 630,558 | 620,739 | 618,794 | 676,750 | 775,472 | 849,982 | |||
| Total liabilities: | 735,498 | 711,208 | 833,659 | 853,372 | 976,389 | 1,042,190 | |||
| Equity | |||||||||
| Equity, attributable to parent | (251,063) | (27,471) | 302,896 | 334,041 | 598,915 | 561,122 | |||
| Common stock | 42 | 41 | 40 | 39 | 38 | 37 | |||
| Treasury stock, value | (18,265) | (17,437) | (16,390) | (14,481) | (13,889) | (9,247) | |||
| Additional paid in capital | 363,957 | 355,239 | 321,164 | 317,023 | 306,817 | 292,780 | |||
| Accumulated other comprehensive loss | (411) | (548) | (627) | (615) | (515) | (222) | |||
| Retained earnings (accumulated deficit) | (596,386) | (364,766) | (1,291) | 32,075 | 306,464 | 277,774 | |||
| Total equity: | (251,063) | (27,471) | 302,896 | 334,041 | 598,915 | 561,122 | |||
| TOTAL LIABILITIES AND EQUITY: | 484,435 | 683,737 | 1,136,555 | 1,187,413 | 1,575,304 | 1,603,312 | |||
Income Statement (P&L) ($ in thousands)
| 3/31/2023 TTM | 6/30/2022 | 6/30/2021 | 6/30/2020 | 6/30/2019 | 6/30/2018 | 6/30/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 340,579 | 478,778 | 545,744 | 655,407 | 684,563 | 633,341 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | 684,563 | 633,341 | |
| Cost of revenue (Cost of Goods and Services Sold) | (307,413) | (403,185) | (380,524) | (32,196) | (32,128) | (32,098) | ||
| Other undisclosed gross profit | (379,601) | (363,729) | (300,030) | |||||
| Gross profit: | 33,166 | 75,593 | 165,220 | 243,610 | 288,706 | 301,213 | ||
| Operating expenses | (209,439) | (312,844) | (145,664) | (505,931) | (159,010) | (214,767) | ||
| Operating income (loss): | (176,273) | (237,251) | 19,556 | (262,321) | 129,696 | 86,446 | ||
| Nonoperating expense | (57,651) | (65,599) | (68,184) | (83,924) | (78,603) | (85,896) | ||
| Interest and debt expense | (57,979) | (10,341) | (2,145) | (448) | (85,634) | (89,420) | ||
| Other undisclosed income from continuing operations before equity method investments, income taxes | 2,145 | 448 | 85,634 | 89,420 | ||||
| Income (loss) from continuing operations before equity method investments, income taxes: | (291,903) | (313,191) | (48,628) | (346,245) | 51,093 | 550 | ||
| Other undisclosed income from continuing operations before income taxes | 57,979 | 10,341 | ||||||
| Income (loss) from continuing operations before income taxes: | (233,924) | (302,850) | (48,628) | (346,245) | 51,093 | 550 | ||
| Income tax expense (benefit) | 2,304 | (60,625) | 15,262 | 74,138 | (22,403) | (1,097) | ||
| Income (loss) from continuing operations: | (231,620) | (363,475) | (33,366) | (272,107) | 28,690 | (547) | ||
| Income (loss) before gain (loss) on sale of properties: | (231,620) | (363,475) | (33,366) | (272,107) | 28,690 | (547) | ||
| Net income (loss): | (231,620) | (363,475) | (33,366) | (272,107) | 28,690 | (547) | ||
| Net loss attributable to noncontrolling interest | (34) | |||||||
| Net income (loss) available to common stockholders, diluted: | (231,620) | (363,475) | (33,366) | (272,107) | 28,690 | (581) | ||
Comprehensive Income ($ in thousands)
| 3/31/2023 TTM | 6/30/2022 | 6/30/2021 | 6/30/2020 | 6/30/2019 | 6/30/2018 | 6/30/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (231,620) | (363,475) | (33,366) | (272,107) | 28,690 | (547) | ||
| Other comprehensive income (loss) | 137 | 79 | (12) | (100) | (293) | 73 | ||
| Comprehensive income (loss): | (231,483) | (363,396) | (33,378) | (272,207) | 28,397 | (474) | ||
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (34) | |||||||
| Comprehensive income (loss), net of tax, attributable to parent: | (231,483) | (363,396) | (33,378) | (272,207) | 28,397 | (508) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.