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)Annual | Quarterly
| 3/31/2023 Q3 | 12/31/2022 Q2 | 9/30/2022 Q1 | 6/30/2022 Q4 | 3/31/2022 Q3 | 12/31/2021 Q2 | 9/30/2021 Q1 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 55,850 | 77,916 | 87,854 | 106,108 | 98,635 | 105,321 | |||
| Cash and cash equivalent | 55,850 | 77,916 | 87,854 | 106,108 | 98,635 | 105,321 | |||
| Receivables | 80,344 | 74,431 | 93,034 | 101,210 | 102,122 | 128,761 | |||
| Inventory, net of allowances, customer advances and progress billings | 94,776 | 94,118 | 95,158 | 95,434 | 105,779 | 112,637 | |||
| Inventory | 94,776 | 94,118 | 95,158 | 95,434 | 105,779 | 112,637 | |||
| Asset, held-for-sale, not part of disposal group | 1,300 | 1,300 | 12,733 | 2,678 | |||||
| Other current assets | 18,257 | 16,892 | 14,070 | 15,953 | 15,345 | 15,496 | |||
| Total current assets: | 250,527 | 264,657 | 290,116 | 318,705 | 334,614 | 364,893 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 9,274 | 9,590 | 9,646 | 10,028 | 10,227 | 10,444 | |||
| Nontrade receivables | 17,984 | 17,272 | |||||||
| Property, plant and equipment | 116,473 | 124,960 | 133,178 | 140,120 | 143,104 | 164,154 | |||
| Intangible assets, net (including goodwill) | 29,639 | 29,997 | 32,179 | 88,351 | 90,972 | 135,338 | |||
| Intangible assets, net (excluding goodwill) | 29,639 | 29,997 | 32,179 | 88,351 | 90,972 | 135,338 | |||
| Other noncurrent assets | 14,462 | 20,820 | 19,316 | 15,103 | 16,020 | 16,039 | |||
| Total noncurrent assets: | 187,832 | 202,639 | 194,319 | 253,602 | 260,323 | 325,975 | |||
| TOTAL ASSETS: | 438,359 | 467,296 | 484,435 | 572,307 | 594,937 | 690,868 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 58,853 | 81,653 | 61,746 | 55,260 | 46,800 | 66,498 | |||
| Interest and dividends payable | ✕ | ✕ | 16,600 | ✕ | ✕ | ||||
| Employee-related liabilities | ✕ | ✕ | 7,957 | 8,342 | 10,817 | 9,606 | 9,737 | ||
| Accounts payable | 33,165 | 24,064 | 29,737 | 28,571 | 25,988 | 36,990 | |||
| Accrued liabilities | 25,688 | 33,032 | 23,667 | 15,872 | 11,206 | 19,771 | |||
| Debt | |||||||||
| Restructuring reserve | 410 | 284 | 490 | 899 | 620 | ||||
| Other liabilities | 12,885 | 13,395 | 13,395 | 5,660 | 3,885 | 3,285 | |||
| Other undisclosed current liabilities | 40,068 | 14,811 | 29,309 | 32,536 | 37,946 | 42,494 | |||
| Total current liabilities: | 112,216 | 110,143 | 104,940 | 94,355 | 89,251 | 112,277 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 623,855 | 629,070 | 624,942 | 620,365 | 614,038 | 607,775 | |||
| Long-term debt, excluding current maturities | 623,855 | 619,343 | 614,948 | 610,080 | 603,484 | 596,975 | |||
| Liabilities, other than long-term debt | 14,562 | 5,644 | 5,616 | 16,895 | 17,808 | 18,169 | |||
| Other liabilities | 5,121 | 5,644 | 5,616 | 16,895 | 17,808 | 18,169 | |||
| Operating lease, liability | 9,441 | 9,727 | 9,994 | 10,285 | 10,554 | 10,800 | |||
| Total noncurrent liabilities: | 638,417 | 634,714 | 630,558 | 637,260 | 631,846 | 625,944 | |||
| Total liabilities: | 750,633 | 744,857 | 735,498 | 731,615 | 721,097 | 738,221 | |||
| Equity | |||||||||
| Equity, attributable to parent | (312,274) | (277,561) | (251,063) | (159,308) | (126,160) | (47,353) | |||
| Common stock | 43 | 43 | 42 | 42 | 42 | 42 | |||
| Treasury stock, value | (18,371) | (18,371) | (18,265) | (18,264) | (18,255) | (18,124) | |||
| Additional paid in capital | 367,134 | 365,573 | 363,957 | 362,531 | 360,765 | 358,361 | |||
| Accumulated other comprehensive loss | (367) | (401) | (411) | (526) | (519) | (524) | |||
| Accumulated deficit | (660,713) | (624,405) | (596,386) | (503,091) | (468,193) | (387,108) | |||
| Total equity: | (312,274) | (277,561) | (251,063) | (159,308) | (126,160) | (47,353) | |||
| TOTAL LIABILITIES AND EQUITY: | 438,359 | 467,296 | 484,435 | 572,307 | 594,937 | 690,868 | |||
Income Statement (P&L) ($ in thousands)Annual | Quarterly
| 3/31/2023 Q3 | 12/31/2022 Q2 | 9/30/2022 Q1 | 6/30/2022 Q4 | 3/31/2022 Q3 | 12/31/2021 Q2 | 9/30/2021 Q1 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 80,894 | 75,079 | 74,189 | 78,357 | 86,508 | 101,525 | ||
| Cost of revenue (Cost of Product and Service Sold) | (66,616) | (62,480) | (66,332) | (75,279) | (80,798) | (85,004) | ||
| Gross profit: | 14,278 | 12,599 | 7,857 | 3,078 | 5,710 | 16,521 | ||
| Operating expenses | (29,049) | (25,627) | (85,819) | (25,161) | (73,790) | (24,669) | ||
| Operating loss: | (14,771) | (13,028) | (77,962) | (22,083) | (68,080) | (8,148) | ||
| Nonoperating expense | (21,505) | (14,957) | (14,846) | (14,180) | (14,373) | (14,252) | ||
| Interest and debt expense | (15,184) | (15,030) | (14,808) | (14,517) | (14,430) | (14,224) | ||
| Loss from continuing operations before equity method investments, income taxes: | (51,460) | (43,015) | (107,616) | (50,780) | (96,883) | (36,624) | ||
| Other undisclosed income from continuing operations before income taxes | 15,184 | 15,030 | 14,808 | 14,517 | 14,430 | 14,224 | ||
| Loss from continuing operations before income taxes: | (36,276) | (27,985) | (92,808) | (36,263) | (82,453) | (22,400) | ||
| Income tax expense (benefit) | (32) | (34) | (487) | 1,365 | 1,368 | 58 | ||
| Loss from continuing operations: | (36,308) | (28,019) | (93,295) | (34,898) | (81,085) | (22,342) | ||
| Loss before gain (loss) on sale of properties: | ✕ | ✕ | (28,019) | (93,295) | (34,898) | (81,085) | (22,342) | |
| Net loss available to common stockholders, diluted: | (36,308) | (28,019) | (93,295) | (34,898) | (81,085) | (22,342) | ||
Comprehensive Income ($ in thousands)Annual | Quarterly
| 3/31/2023 Q3 | 12/31/2022 Q2 | 9/30/2022 Q1 | 6/30/2022 Q4 | 3/31/2022 Q3 | 12/31/2021 Q2 | 9/30/2021 Q1 | ||
|---|---|---|---|---|---|---|---|---|
| Net loss: | (36,308) | (28,019) | (93,295) | (34,898) | (81,085) | (22,342) | ||
| Other comprehensive income (loss) | 34 | 10 | 115 | (7) | 5 | 24 | ||
| Comprehensive loss, net of tax, attributable to parent: | (36,274) | (28,009) | (93,180) | (34,905) | (81,080) | (22,318) | ||
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.