Financials

Lannett Reports Fiscal 2008 First Quarter Financial Results

Published in Lab Business Week, December 2nd, 2007

Lannett Company, Inc. (AMEX:LCI) reported its financial results for the fiscal 2008 first quarter ended September 30, 2007.

For the first quarter of fiscal 2008, net sales were $17.5 million compared with $22.0 million for the same period of the prior year. Net loss was $127,000, or $0.01 per share versus net income of $1.3 million, or $0.05 per basic and diluted share, for the first quarter of fiscal 2007.

"Expenses associated with operating our acquired raw material and oral solutions supplier weighed on our bottom-line results," said Arthur Bedrosian, president and chief executive officer of Lannett. "Excluding this unit's operating expenses, our...

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Source: Lab Business Week (2007-12-02)

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