Financial Statements for Lannett Company, Inc.

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Lannett Company, Inc. financials

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Income Statement

Balance Sheet

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In Millions of USD (except for per share items)	3 months ending 2013-03-31	3 months ending 2012-12-31	3 months ending 2012-09-30	3 months ending 2012-06-30	3 months ending 2012-03-31
Revenue	39.02	36.56	35.29	35.69	30.69
Other Revenue, Total	-	-	-	-	-
Total Revenue	39.02	36.56	35.29	35.69	30.69
Cost of Revenue, Total	23.85	23.14	21.67	23.68	19.80
Gross Profit	15.17	13.42	13.63	12.01	10.89
Selling/General/Admin. Expenses, Total	5.25	5.16	6.17	5.41	5.62
Research & Development	5.23	3.57	3.76	3.99	2.91
Depreciation/Amortization	-	-	-	-	-
Interest Expense(Income) - Net Operating	-	-	-	-	-
Unusual Expense (Income)	0.00	0.00	-1.25	-	-
Other Operating Expenses, Total	-	-	-	-	-
Total Operating Expense	34.33	31.87	30.35	33.08	28.32
Operating Income	4.70	4.69	4.94	2.61	2.36
Interest Income(Expense), Net Non-Operating	-	-	-	-	-
Gain (Loss) on Sale of Assets	0.09	-0.11	0.07	0.00	0.00
Other, Net	-	-	-	0.00	-
Income Before Tax	5.29	4.61	5.22	2.24	2.79
Income After Tax	3.96	2.86	2.94	1.43	1.73
Minority Interest	-0.02	0.02	-0.02	-0.02	-0.02
Equity In Affiliates	-	-	-	-	-
Net Income Before Extra. Items	3.95	2.88	2.93	1.42	1.72
Accounting Change	-	-	-	-	-
Discontinued Operations	-	-	-	-	-
Extraordinary Item	-	-	-	-	-
Net Income	3.95	2.88	2.93	1.42	1.72
Preferred Dividends	-	-	-	-	-
Income Available to Common Excl. Extra Items	3.95	2.88	2.93	1.42	1.72
Income Available to Common Incl. Extra Items	3.95	2.88	2.93	1.42	1.72
Basic Weighted Average Shares	-	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-	-
Dilution Adjustment	-	-	-	-	0.00
Diluted Weighted Average Shares	29.12	28.45	28.47	28.38	28.72
Diluted EPS Excluding Extraordinary Items	0.14	0.10	0.10	0.05	0.06
Diluted EPS Including Extraordinary Items	-	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.00	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	-	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-	-
Depreciation, Supplemental	-	-	-	-	-
Total Special Items	-	-	-	-	-
Normalized Income Before Taxes	-	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-	-
Normalized Income After Taxes	-	-	-	-	-
Normalized Income Avail to Common	-	-	-	-	-
Basic Normalized EPS	-	-	-	-	-
Diluted Normalized EPS	0.13	0.10	0.08	0.05	0.06

In Millions of USD (except for per share items)	12 months ending 2012-06-30	12 months ending 2011-06-30	12 months ending 2010-06-30	12 months ending 2009-06-30
Revenue	122.99	106.83	125.18	119.00
Other Revenue, Total	-	-	-	-
Total Revenue	122.99	106.83	125.18	119.00
Cost of Revenue, Total	84.04	83.52	83.84	73.76
Gross Profit	38.95	23.32	41.34	45.24
Selling/General/Admin. Expenses, Total	20.19	15.91	17.38	26.06
Research & Development	11.84	8.59	11.25	8.43
Depreciation/Amortization	-	-	-	-
Interest Expense(Income) - Net Operating	-	-	-	-
Unusual Expense (Income)	-	-	-	0.03
Other Operating Expenses, Total	-	-	-	-
Total Operating Expense	116.08	108.01	112.47	108.22
Operating Income	6.91	-1.18	12.71	10.78
Interest Income(Expense), Net Non-Operating	-	-	-	-
Gain (Loss) on Sale of Assets	0.00	-0.02	0.32	-
Other, Net	0.00	0.41	0.00	0.00
Income Before Tax	6.62	-0.70	12.82	10.67
Income After Tax	4.02	-0.24	8.01	6.58
Minority Interest	-0.07	-0.04	-0.19	-0.04
Equity In Affiliates	-	-	-	-
Net Income Before Extra. Items	3.95	-0.28	7.82	6.53
Accounting Change	-	-	-	-
Discontinued Operations	-	-	-	-
Extraordinary Item	-	-	-	-
Net Income	3.95	-0.28	7.82	6.53
Preferred Dividends	-	-	-	-
Income Available to Common Excl. Extra Items	3.95	-0.28	7.82	6.53
Income Available to Common Incl. Extra Items	3.95	-0.28	7.82	6.53
Basic Weighted Average Shares	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-
Dilution Adjustment	-	0.00	-	0.00
Diluted Weighted Average Shares	28.41	26.76	25.20	24.59
Diluted EPS Excluding Extraordinary Items	0.14	-0.01	0.31	0.27
Diluted EPS Including Extraordinary Items	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-
Depreciation, Supplemental	-	-	-	-
Total Special Items	-	-	-	-
Normalized Income Before Taxes	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-
Normalized Income After Taxes	-	-	-	-
Normalized Income Avail to Common	-	-	-	-
Basic Normalized EPS	-	-	-	-
Diluted Normalized EPS	0.14	-0.01	0.30	0.27

In Millions of USD (except for per share items)	As of 2013-03-31	As of 2012-12-31	As of 2012-09-30	As of 2012-06-30	As of 2012-03-31
Cash & Equivalents	33.07	31.45	26.36	22.56	18.99
Short Term Investments	5.91	6.64	5.01	6.67	5.57
Cash and Short Term Investments	38.97	38.09	31.37	29.23	24.56
Accounts Receivable - Trade, Net	39.81	41.37	42.06	42.21	37.50
Receivables - Other	-	-	-	-	-
Total Receivables, Net	39.81	41.37	42.06	42.21	37.50
Total Inventory	32.85	30.69	27.61	27.06	27.98
Prepaid Expenses	0.21	0.25	0.00	2.12	3.21
Other Current Assets, Total	7.10	6.26	7.00	5.86	6.34
Total Current Assets	118.95	116.66	108.03	106.48	99.58
Property/Plant/Equipment, Total - Gross	-	69.28	66.24	-	64.45
Accumulated Depreciation, Total	-	-30.40	-29.43	-	-27.37
Goodwill, Net	-	-	-	-	-
Intangibles, Net	3.02	3.49	3.96	4.43	4.90
Long Term Investments	-	-	-	-	-
Other Long Term Assets, Total	8.98	9.35	10.02	10.24	9.92
Total Assets	170.23	168.38	158.82	158.22	151.48
Accounts Payable	15.71	18.62	12.64	17.99	15.75
Accrued Expenses	7.40	5.79	4.24	4.72	3.33
Notes Payable/Short Term Debt	0.00	0.00	0.00	0.00	0.00
Current Port. of LT Debt/Capital Leases	0.66	0.65	0.65	0.65	0.64
Other Current liabilities, Total	16.55	18.96	19.99	17.04	15.39
Total Current Liabilities	40.32	44.03	37.52	40.39	35.12
Long Term Debt	6.12	6.25	6.38	6.51	6.78
Capital Lease Obligations	-	-	-	-	-
Total Long Term Debt	6.12	6.25	6.38	6.51	6.78
Total Debt	6.78	6.91	7.04	7.16	7.42
Deferred Income Tax	-	-	-	-	-
Minority Interest	0.18	0.17	0.21	0.19	0.17
Other Liabilities, Total	-	-	-	-	0.00
Total Liabilities	46.62	50.45	44.11	47.09	42.07
Redeemable Preferred Stock, Total	-	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-	-
Common Stock, Total	0.03	0.03	0.03	0.03	0.03
Additional Paid-In Capital	102.70	100.91	100.47	99.52	98.93
Retained Earnings (Accumulated Deficit)	22.99	19.04	16.16	13.24	11.82
Treasury Stock - Common	-2.03	-2.03	-1.93	-1.59	-1.35
Other Equity, Total	-0.08	-0.03	-0.02	-0.06	-0.02
Total Equity	123.61	117.92	114.71	111.12	109.40
Total Liabilities & Shareholders' Equity	170.23	168.38	158.82	158.22	151.48
Shares Outs - Common Stock Primary Issue	-	-	-	-	-
Total Common Shares Outstanding	28.67	28.39	28.30	28.25	28.29

In Millions of USD (except for per share items)	As of 2012-06-30	As of 2011-06-30	As of 2010-06-30	As of 2009-06-30
Cash & Equivalents	22.56	5.28	21.90	25.83
Short Term Investments	6.67	19.38	0.60	0.35
Cash and Short Term Investments	29.23	24.66	22.50	26.18
Accounts Receivable - Trade, Net	42.22	33.46	38.32	29.95
Receivables - Other	-	-	-	-
Total Receivables, Net	44.34	37.10	38.32	30.04
Total Inventory	27.06	26.90	19.06	16.20
Prepaid Expenses	-	-	-	0.00
Other Current Assets, Total	5.85	5.48	7.85	4.90
Total Current Assets	106.48	94.14	87.73	77.31
Property/Plant/Equipment, Total - Gross	65.50	60.28	53.10	42.02
Accumulated Depreciation, Total	-28.43	-24.59	-21.53	-18.53
Goodwill, Net	-	-	-	-
Intangibles, Net	4.43	5.91	7.79	9.12
Long Term Investments	-	0.00	0.18	0.80
Other Long Term Assets, Total	10.24	12.00	12.69	13.86
Total Assets	158.22	147.74	139.96	124.58
Accounts Payable	17.99	18.38	16.28	16.80
Accrued Expenses	4.72	2.29	9.77	6.99
Notes Payable/Short Term Debt	0.00	0.00	0.00	0.00
Current Port. of LT Debt/Capital Leases	0.65	0.63	4.85	0.43
Other Current liabilities, Total	17.04	13.56	16.73	14.45
Total Current Liabilities	40.39	34.86	47.63	38.68
Long Term Debt	6.51	7.19	2.87	7.70
Capital Lease Obligations	-	-	-	-
Total Long Term Debt	6.51	7.19	2.87	7.70
Total Debt	7.16	7.82	7.72	8.14
Deferred Income Tax	-	-	-	-
Minority Interest	0.19	0.14	0.11	0.09
Other Liabilities, Total	0.00	0.00	0.51	0.55
Total Liabilities	47.09	42.19	51.12	47.02
Redeemable Preferred Stock, Total	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-
Common Stock, Total	0.03	0.03	0.02	0.02
Additional Paid-In Capital	99.52	97.08	79.86	76.25
Retained Earnings (Accumulated Deficit)	13.24	9.29	9.56	1.74
Treasury Stock - Common	-1.59	-0.87	-0.65	-0.49
Other Equity, Total	-0.06	0.02	0.04	0.02
Total Equity	111.12	105.55	88.85	77.55
Total Liabilities & Shareholders' Equity	158.22	147.74	139.96	124.58
Shares Outs - Common Stock Primary Issue	-	-	-	-
Total Common Shares Outstanding	28.25	28.25	24.77	24.44

In Millions of USD (except for per share items)	9 months ending 2013-03-31	6 months ending 2012-12-31	3 months ending 2012-09-30	12 months ending 2012-06-30
Net Income/Starting Line	9.77	5.80	2.94	4.02
Depreciation/Depletion	4.62	3.09	1.55	5.74
Amortization	-	-	-	-
Deferred Taxes	0.62	0.41	0.14	1.08
Non-Cash Items	0.31	0.68	-0.45	2.28
Changes in Working Capital	-1.95	3.02	-1.40	-1.99
Cash from Operating Activities	13.37	13.01	2.78	11.12
Capital Expenditures	-5.89	-4.30	-0.82	-5.24
Other Investing Cash Flow Items, Total	1.88	0.41	1.96	12.62
Cash from Investing Activities	-4.00	-3.90	1.14	7.38
Financing Cash Flow Items	-0.02	-0.02	-	-0.02
Total Cash Dividends Paid	-	-	-	-
Issuance (Retirement) of Stock, Net	1.55	0.02	-0.04	-0.45
Issuance (Retirement) of Debt, Net	-0.38	-0.25	-0.12	-0.66
Cash from Financing Activities	1.16	-0.25	-0.16	-1.13
Foreign Exchange Effects	-0.02	0.04	0.04	-0.09
Net Change in Cash	10.50	8.89	3.80	17.29
Cash Interest Paid, Supplemental	-	0.14	0.08	0.27
Cash Taxes Paid, Supplemental	-	1.75	-1.66	0.00

In Millions of USD (except for per share items)	12 months ending 2012-06-30	12 months ending 2011-06-30	12 months ending 2010-06-30	12 months ending 2009-06-30
Net Income/Starting Line	4.02	-0.24	8.01	6.58
Depreciation/Depletion	5.74	4.98	4.89	5.10
Amortization	-	-	-	-
Deferred Taxes	1.08	2.85	0.18	2.98
Non-Cash Items	2.28	1.30	1.72	1.28
Changes in Working Capital	-1.99	-15.09	-7.85	4.63
Cash from Operating Activities	11.12	-6.20	6.94	20.57
Capital Expenditures	-5.24	-7.25	-11.69	-1.60
Other Investing Cash Flow Items, Total	12.62	-18.39	0.71	1.43
Cash from Investing Activities	7.38	-25.65	-10.98	-0.17
Financing Cash Flow Items	-0.02	-0.09	-0.11	0.00
Total Cash Dividends Paid	-	-	-	-
Issuance (Retirement) of Stock, Net	-0.45	15.23	0.59	0.02
Issuance (Retirement) of Debt, Net	-0.66	0.10	-0.42	-0.84
Cash from Financing Activities	-1.13	15.24	0.07	-0.82
Foreign Exchange Effects	-0.09	-0.01	0.03	0.00
Net Change in Cash	17.29	-16.62	-3.94	19.58
Cash Interest Paid, Supplemental	0.27	0.27	0.18	0.22
Cash Taxes Paid, Supplemental	0.00	1.81	3.80	0.25