Lannett Co Inc (LCI) Financial Statements (2024 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
12/31/2022
MRQ
6/30/2022
6/30/2021
6/30/2020
6/30/2019
6/30/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments55,85087,85493,286144,329140,24998,586
Cash and cash equivalents55,85087,85493,286144,329140,24998,586
Receivables80,34493,034133,884140,107164,752252,651
Inventory, net of allowances, customer advances and progress billings94,77695,158109,545142,867143,971141,635
Inventory94,77695,158109,545142,867143,971141,635
Prepaid expense      15,159
Asset, held-for-sale, not part of disposal group1,300 2,6782,6789,67113,976
Other current assets18,25714,07014,17013,22713,6064,863
Total current assets:250,527290,116353,563443,208472,249526,870
Noncurrent Assets
Operating lease, right-of-use asset9,2749,64610,5599,343
Nontrade receivables17,984     
Property, plant and equipment116,473133,178166,674179,518186,670233,247
Intangible assets, net (including goodwill)29,63932,179137,835374,735411,229763,991
Goodwill      339,566
Intangible assets, net (excluding goodwill)29,63932,179137,835374,735411,229424,425
Deferred income tax assets    117,890
Other noncurrent assets14,46219,31615,10611,8617,96029,133
Deferred tax assets, net109,30522,063
Total noncurrent assets:187,832194,319330,174693,347715,1641,048,434
TOTAL ASSETS:438,359484,435683,7371,136,5551,187,4131,575,304
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities58,85361,74653,34263,80139,22272,011
Employee-related liabilities8,34210,68016,30419,9247,819
Accounts payable33,16529,73729,58532,53513,49356,767
Accrued liabilities25,68823,66713,07714,9625,8057,425
Debt   89,28666,84566,845
Restructuring reserve4104908272,3156,706
Other liabilities12,88513,3952,2702,7133,652 
Other undisclosed current liabilities40,06829,30934,84959,03864,58855,355
Total current liabilities:112,216104,94090,469214,865176,622200,917
Noncurrent Liabilities
Long-term debt and lease obligation 623,855624,942601,730602,784662,203772,425
Long-term debt, excluding current maturities 623,855614,948590,683592,940662,203772,425
Liabilities, other than long-term debt14,5625,61619,00916,01014,5473,047
Other liabilities5,1215,61619,00916,01014,5473,047
Operating lease, liability9,4419,99411,0479,844
Total noncurrent liabilities:638,417630,558620,739618,794676,750775,472
Total liabilities:750,633735,498711,208833,659853,372976,389
Equity
Equity, attributable to parent(312,274)(251,063)(27,471)302,896334,041598,915
Common stock434241403938
Treasury stock, value(18,371)(18,265)(17,437)(16,390)(14,481)(13,889)
Additional paid in capital367,134363,957355,239321,164317,023306,817
Accumulated other comprehensive loss(367)(411)(548)(627)(615)(515)
Retained earnings (accumulated deficit)(660,713)(596,386)(364,766)(1,291)32,075306,464
Total equity:(312,274)(251,063)(27,471)302,896334,041598,915
TOTAL LIABILITIES AND EQUITY:438,359484,435683,7371,136,5551,187,4131,575,304

Income Statement (P&L) ($ in thousands)

3/31/2023
TTM
12/31/2022
TTM
6/30/2022
6/30/2021
6/30/2020
6/30/2019
6/30/2018
Revenues308,519340,579478,778545,744655,407684,563
Revenue, net684,563
Cost of revenue
(Cost of Goods and Services Sold)
(270,707)(307,413)(403,185)(380,524)(32,196)(32,128)
Other undisclosed gross profit     (379,601)(363,729)
Gross profit:37,81233,16675,593165,220243,610288,706
Operating expenses(165,656)(209,439)(312,844)(145,664)(505,931)(159,010)
Operating income (loss):(127,844)(176,273)(237,251)19,556(262,321)129,696
Nonoperating expense(65,488)(57,651)(65,599)(68,184)(83,924)(78,603)
Interest and debt expense(59,539)(57,979)(10,341)(2,145)(448)(85,634)
Other undisclosed income from continuing operations before equity method investments, income taxes    2,14544885,634
Income (loss) from continuing operations before equity method investments, income taxes:(252,871)(291,903)(313,191)(48,628)(346,245)51,093
Other undisclosed income from continuing operations before income taxes59,53957,97910,341   
Income (loss) from continuing operations before income taxes:(193,332)(233,924)(302,850)(48,628)(346,245)51,093
Income tax expense (benefit)8122,304(60,625)15,26274,138(22,403)
Income (loss) from continuing operations:(192,520)(231,620)(363,475)(33,366)(272,107)28,690
Income (loss) before gain (loss) on sale of properties:(156,212)(231,620)(363,475)(33,366)(272,107)28,690
Net income (loss) available to common stockholders, diluted:(192,520)(231,620)(363,475)(33,366)(272,107)28,690

Comprehensive Income ($ in thousands)

3/31/2023
TTM
12/31/2022
TTM
6/30/2022
6/30/2021
6/30/2020
6/30/2019
6/30/2018
Net income (loss):(192,520)(231,620)(363,475)(33,366)(272,107)28,690
Other comprehensive income (loss)15213779(12)(100)(293)
Comprehensive income (loss), net of tax, attributable to parent:(192,368)(231,483)(363,396)(33,378)(272,207)28,397

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.

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