Winning the battle field: Lannett Company, Inc. (NYSE: LCI)

On 08 Jan 2020, Lannett Company, Inc. (NYSE: LCI) stock observed trading -48.00% off 52-week high price. On the other end, the stock has been noted 56.55% away from low price over the last 52-weeks. The stock disclosed a move of -15.10% away from 50 day moving average and -4.03% away from 200 day moving average. Moving closer, we can see that shares have been trading -8.89% off 20-day moving average.

Lannett Company, Inc. (LCI) recently stated financial results for its fiscal 2020 first quarter ended September 30, 2019.

“Near the end of the first quarter, we completed an $86.25M convertible notes offering, due 2026, and used the net proceeds to pay down half of our outstanding Term A Loans.  Our existing cash position exceeds the remaining balance of the Term A Loans, which mature in about one year.  As a result of the transaction, we lowered our interest expense, strengthened our balance sheet and improved our financial flexibility.”

For the fiscal 2020 first quarter, on a GAAP basis, net sales were $127.3M contrast with $155.1M for the first quarter of fiscal 2019.  Gross profit was $42.7M, or 33% of total net sales, contrast with $59.1M, or 38% of total net sales.  Net loss was $12.2M, or $0.32 per share.  Net loss for the previous year first quarter, which included asset impairment charges of $369.5M, was $287.5M, or $7.65 per share.

For the fiscal 2020 first quarter stated on a Non-GAAP basis, net sales were $127.3M contrast with $155.1M for the first quarter of fiscal 2019.  Adjusted gross profit was $52.6M, or 41% of adjusted net sales, contrast with $68.7M, or 44% of adjusted net sales, for the prior-year first quarter.  Adjusted interest expense was $15.3M contrast with $16.9M for the first quarter of fiscal 2019.  Adjusted net income was $8.8M, or $0.22 per diluted share, contrast with $16.9M, or $0.44 per diluted share, for the fiscal 2019 first quarter.

The USA based company Lannett Company, Inc. moved with change of 1.64% to $8.07 with the total traded volume of 702747 shares in recent session versus to an average volume of 1001.45K. LCI’s shares are at -33.74% for the quarter and driving a 14.14% return over the course of the past year and is now at -8.50% since this point in 2018.  Right now, the stock beta is 2.22. The average volatility for the week and month was at 4.78% and 4.32% respectively. There are 41.52M shares outstanding and 31.36M shares are floated in market.

 

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