LCI - Lannett shares slide on 2021 forecast cut QF2 topline fall

Lannett Company (LCI) FQ2 results:Revenue of $133.9M (-1.6% Y/Y), beats by $3.9M.Net loss: (171.95M); non-GAAP net income: $3.21M; loss/share: ($4.36); non-GAAP EPS:  $0.08.Non-GAAP EBITDA: $24M.Long term net debt, as of Dec 31 2020: $578.48M, down from $592.94M in June.2021 guidance: Net sales of $480M to $500M, down from $520M to $545M; Gross margin of about 14% to 16%, down from about 23% to 25%; Restructuring expenses of $4M; CAPEX: $10M to $15M, down from $15M to $20M.Lannett shares down ~12% premarket.Previously (Feb. 3): Lannett EPS in-line, beats on revenue.

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Lannett shares slide on 2021 forecast cut, QF2 topline fall