PHILADELPHIA, Aug. 23, 2017 /PRNewswire/ -- Lannett Company, Inc. (NYSE: LCI) today reported financial results for its fiscal 2017 fourth quarter and full year ended June 30, 2017.
"In the coming year, we expect a solid increase in net revenues compared with fiscal 2017 and, while much of our industry is facing pricing pressures, we expect our adjusted gross margins to continue to be above 50%, which exceeds the average of our peer companies," said Arthur Bedrosian, chief executive officer of Lannett. "For the fourth quarter and full year, our full financial results were in-line with the preliminary results issued two weeks ago. As we previously reported, our fourth quarter was impacted by unanticipated items, which totaled approximately $0.24 per diluted share, as well as pricing and volume pressures. However, planned product launches, combined with a number of initiatives we have put in place, make us confident in our near- and longer term growth."
"In the coming year, we expect a solid increase in net revenues compared with fiscal 2017 and, while much of our industry is facing pricing pressures, we expect our adjusted gross margins to continue to be above 50%, which exceeds the average of our peer companies," said Arthur Bedrosian, chief executive officer of Lannett. "For the fourth quarter and full year, our full financial results were in-line with the preliminary results issued two weeks ago. As we previously reported, our fourth quarter was impacted by unanticipated items, which totaled approximately $0.24 per diluted share, as well as pricing and volume pressures. However, planned product launches, combined with a number of initiatives we have put in place, make us confident in our near- and longer term growth."
