Lannett Company, Inc. Reports Fiscal 2012 Second Quarter Financial Results

Published: Feb 08, 2012

PHILADELPHIA--(BUSINESS WIRE)--Lannett Company, Inc. (NYSE AMEX:LCI) today reported financial results for the fiscal 2012 second quarter and six months ended December 31, 2011.

For the second quarter of fiscal 2012, net sales were $27.7 million and net income attributable to Lannett Company was $609,000, or $0.02 per diluted share. The fiscal 2012 second quarter results were negatively impacted by a $945,000 reduction in sales, related to the recently enacted federal Patient Protection and Affordable Care Act (PPACA). For the second quarter of the prior year, net sales were $30.0 million and net income attributable to Lannett Company was $2.4 million, or $0.09 per diluted share.

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