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Update: Shares Of Lannett Only Slightly Higher After Earnings Beat

Shortly after Wednesday's close, Lannett Company (LCI) reported financial results for the second quarter that easily topped analysts' consensus estimates. Earnings per share soared 170% from the same year-ago quarter to $1.21, beating estimates by 15 cents. Sales were also dramatically higher, surging 70.5% year-over-year to a record $114.8 million. Lannett also positively revised their full-year outlook for 2015, yet shares were only up a measly 0.86% in the after hours session following the release. So, why wasn't the stock up more following such a blowout quarter?

In a previous article, I identified Lannett's second quarter preannouncement as a possible curtailer of gains following the quarterly results. This release announced preliminary EPS in the range of $1.18-1.21 on revenue of approximately $115 million. Comparing these preliminary results to the actual ones, it can be seen that Q2 results were in-line with the forecast.

Referencing my previous article, I opined… Read More …