Lannett Sees Q2 Results Above Consensus

(RTTNews) - Generic drugmaker Lannett Company, Inc. (LCI) said Monday that it expects to report net sales of about $115 million and earnings of $1.18 to $1.21 per share for the second quarter of fiscal 2015.

For the prior year second quarter, the company recorded net sales of $67.3 million and net income attributable to Lannett of $16.6 million, or $0.46 per diluted share.

Analysts polled by Thomson Reuters currently expect the company to report earnings of $0.92 per share on revenue of $97.48 million for the second quarter.

The company said higher gross margin drove the considerably improved performance.

The company also said that it expects financial results for its third and fourth quarters to be consistent with the results reported for the first quarter of fiscal 2015.

Lannett will report full financial results for its fiscal 2015 second quarter on February 4 after the market closes.