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Lannett (LCI) Stock Jumps as Q4 Earnings, Revenue Beat Estimates

NEW YORK (TheStreet) -- Shares of Lannett (LCI) were surging 17.91% to $38.11 on heavy trading volume mid-Wednesday morning after the company reported fiscal 2016 fourth quarter results that topped estimates.

After Tuesday's market close, the Philadelphia-based generic pharmaceuticals company reported adjusted earnings of 73 cents per share on revenue of $168.9 million, higher than analysts' projections of earnings of 60 cents per share on revenue of $161.5 million.

For the full year, the company posted adjusted earnings of $3.42 per diluted share on revenue of...