Lannett Co Inc (LCI) Financial Statements (2023 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 millions)
| 12/31/2021 TTM | 6/30/2021 | 6/30/2020 | 6/30/2019 | 6/30/2018 | 6/30/2017 | 6/30/2016 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 99 | 93 | 144 | 140 | 99 | 145 | 239 | ||
| Cash and cash equivalents | 99 | 93 | 144 | 140 | 99 | 118 | 225 | ||
| Short-term investments | 27 | 14 | |||||||
| Receivables | 102 | 134 | 140 | 165 | 253 | 204 | 212 | ||
| Inventory, net of allowances, customer advances and progress billings | 106 | 110 | 143 | 144 | 142 | 123 | 115 | ||
| Inventory | 106 | 110 | 143 | 144 | 142 | 123 | 115 | ||
| Prepaid expense | 15 | 17 | |||||||
| Assets held-for-sale, not part of disposal group | 13 | 3 | 3 | 10 | 14 | ||||
| Deferred tax assets | ✕ | ✕ | ✕ | 29 | 41 | ||||
| Other current assets | 15 | 14 | 13 | 14 | 5 | 7 | 6 | ||
| Total current assets: | 335 | 354 | 443 | 472 | 527 | 524 | 613 | ||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 10 | 11 | 9 | ✕ | ✕ | ✕ | ✕ | ||
| Property, plant and equipment | 143 | 167 | 180 | 187 | 233 | 243 | 217 | ||
| Intangible assets, net (including goodwill) | 91 | 138 | 375 | 411 | 764 | 793 | 909 | ||
| Goodwill | 340 | 340 | 334 | ||||||
| Intangible assets, net (excluding goodwill) | 91 | 138 | 375 | 411 | 424 | 454 | 576 | ||
| Deferred income tax assets | 118 | ✕ | ✕ | ✕ | ✕ | ||||
| Other noncurrent assets | 16 | 15 | 12 | 8 | 29 | 19 | 14 | ||
| Deferred tax assets, net | ✕ | ✕ | ✕ | 109 | 22 | 24 | 12 | ||
| Total noncurrent assets: | 260 | 330 | 693 | 715 | 1,048 | 1,080 | 1,151 | ||
| TOTAL ASSETS: | 595 | 684 | 1,137 | 1,187 | 1,575 | 1,603 | 1,764 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 47 | 53 | 64 | 39 | 72 | 62 | 55 | ||
| Accounts payable | 26 | 30 | 33 | 13 | 57 | 45 | 35 | ||
| Accrued liabilities | 11 | 13 | 15 | 6 | 7 | 12 | 9 | ||
| Employee-related liabilities | 10 | 11 | 16 | 20 | 8 | 5 | 11 | ||
| Taxes payable | 1 | ||||||||
| Debt | 89 | 67 | 67 | 60 | 178 | ||||
| Restructuring reserve | 1 | 0 | 0 | 2 | 7 | 5 | 4 | ||
| Estimated litigation liability | 17 | 7 | |||||||
| Business combination, contingent consideration, liability | 35 | ||||||||
| Other liabilities | 4 | 2 | 3 | 4 | |||||
| Other undisclosed current liabilities | 38 | 35 | 59 | 65 | 55 | 48 | 27 | ||
| Total current liabilities: | 89 | 90 | 215 | 177 | 201 | 192 | 307 | ||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 614 | 602 | 603 | 662 | 772 | 844 | 884 | ||
| Long-term debt, excluding current maturities | 603 | 591 | 593 | 662 | 772 | 844 | 884 | ||
| Operating lease, liability | 11 | 11 | 10 | ✕ | ✕ | ✕ | ✕ | ||
| Liabilities, other than long-term debt | 18 | 19 | 16 | 15 | 3 | 6 | 19 | ||
| Estimated litigation liability | 13 | ||||||||
| Other liabilities | 18 | 19 | 16 | 15 | 3 | 6 | 7 | ||
| Total noncurrent liabilities: | 632 | 621 | 619 | 677 | 775 | 850 | 903 | ||
| Total liabilities: | 721 | 711 | 834 | 853 | 976 | 1,042 | 1,210 | ||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent, including: | (126) | (27) | 303 | 334 | 599 | 561 | 554 | ||
| Common stock | 0 | 0 | 0 | 0 | 0 | 0 | |||
| Treasury stock, value | (18) | (17) | (16) | (14) | (14) | (9) | (7) | ||
| Additional paid in capital | 361 | 355 | 321 | 317 | 307 | 293 | 283 | ||
| Accumulated other comprehensive loss | (1) | (1) | (1) | (1) | (1) | (0) | (0) | ||
| Retained earnings (accumulated deficit) | (468) | (365) | (1) | 32 | 306 | 278 | 278 | ||
| Other undisclosed stockholders' equity attributable to parent | 0 | ||||||||
| Stockholders' equity attributable to noncontrolling interest | 0 | ||||||||
| Total stockholders' equity: | (126) | (27) | 303 | 334 | 599 | 561 | 554 | ||
| TOTAL LIABILITIES AND EQUITY: | 595 | 684 | 1,137 | 1,187 | 1,575 | 1,603 | 1,764 | ||
Income Statement (P&L) ($ in millions)
| 12/31/2021 TTM | 6/30/2021 | 6/30/2020 | 6/30/2019 | 6/30/2018 | 6/30/2017 | 6/30/2016 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 406 | 479 | 546 | 655 | 685 | 633 | 542 | |
| Revenue, net | ✕ | ✕ | ✕ | ✕ | 685 | 633 | 542 | |
| Cost of revenue (Cost of Goods and Services Sold) | (335) | (403) | (381) | (32) | (32) | (32) | (19) | |
| Other undisclosed gross profit | (380) | (364) | (300) | (237) | ||||
| Gross profit: | 71 | 76 | 165 | 244 | 289 | 301 | 286 | |
| Operating expenses | (168) | (313) | (146) | (506) | (159) | (215) | (156) | |
| Operating income (loss): | (97) | (237) | 20 | (262) | 130 | 86 | 131 | |
| Nonoperating expense | (66) | (66) | (68) | (84) | (79) | (86) | (69) | |
| Other nonoperating income (expense) | (2) | (2) | (1) | (2) | 2 | (0) | (69) | |
| Interest and debt expense | (11) | (10) | (2) | (0) | (86) | (89) | (3) | |
| Other undisclosed income (loss) from continuing operations before equity method investments, income taxes | (28) | 2 | 0 | 86 | 89 | 3 | ||
| Income (loss) from continuing operations before equity method investments, income taxes: | (202) | (313) | (49) | (346) | 51 | 1 | 62 | |
| Other undisclosed income from continuing operations before income taxes | 39 | 10 | ||||||
| Income (loss) from continuing operations before income taxes: | (163) | (303) | (49) | (346) | 51 | 1 | 62 | |
| Income tax expense (benefit) | (125) | (61) | 15 | 74 | (22) | (1) | (17) | |
| Net income (loss): | (288) | (363) | (33) | (272) | 29 | (1) | 45 | |
| Net loss attributable to noncontrolling interest | (0) | (0) | ||||||
| Net income (loss) available to common stockholders, diluted: | (288) | (363) | (33) | (272) | 29 | (1) | 45 | |
Comprehensive Income ($ in millions)
| 12/31/2021 TTM | 6/30/2021 | 6/30/2020 | 6/30/2019 | 6/30/2018 | 6/30/2017 | 6/30/2016 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (288) | (363) | (33) | (272) | 29 | (1) | 45 | |
| Other comprehensive income (loss) | 0 | 0 | (0) | (0) | (0) | 0 | ||
| Comprehensive income (loss): | (288) | (363) | (33) | (272) | 28 | (0) | 45 | |
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (0) | (0) | ||||||
| Comprehensive income (loss), net of tax, attributable to parent: | (288) | (363) | (33) | (272) | 28 | (1) | 45 | |
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.