Lantheus Holdings Inc (LNTH) has reported a 24.34 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $4.87 million, or $0.13 a share in the quarter, compared with $3.92 million, or $0.13 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $6.77 million, or $0.18 a share compared with $3.92 million or $0.13 a share, a year ago. Revenue during the quarter grew 4.42 percent to $74.35 million from $71.20 million in the previous year period. Gross margin for the quarter contracted 28 basis points over the previous year period to 46.60 percent. Total expenses were 83.67 percent of quarterly revenues, up from 82.60 percent for the same period last year. That has resulted in a contraction of 107 basis points in operating margin to 16.33 percent.
Operating income for the quarter was $12.14 million, compared with $12.39 million in the previous year period.
However, the adjusted operating income for the quarter stood at $13.56 million compared to $12.39 million in the prior year period. At the same time, adjusted operating margin improved 84 basis points in the quarter to 18.24 percent from 17.40 percent in the last year period.
Mary Anne Heino, president and chief executive officer, commented, “2016 was a successful year for the Company on a number of levels as we exceeded both revenue and Adjusted EBITDA guidance, delivering significant value to shareholders. Our strong results reflect 18.1% revenue growth of DEFINITY worldwide, execution of our nuclear products contracting strategy, and a consistent focus on optimizing our capital structure, including $75 million of reduction in our outstanding debt. We enter 2017 poised to drive continued growth while remaining focused on building our portfolio and strengthening the long-term financial results of the Company.”
For the first-quarter, Lantheus Holdings projects revenue to be in the range of $77 million to $80 million. Lantheus Holdings projects revenue to be in the range of $312 million to $317 million for financial year 2017.
Working capital increases
Lantheus Holdings Inc has recorded an increase in the working capital over the last year. It stood at $66.98 million as at Dec. 31, 2016, up 23.16 percent or $12.60 million from $54.38 million on Dec. 31, 2015. Current ratio was at 2.53 as on Dec. 31, 2016, up from 2.52 on Dec. 31, 2015.
Debt comes down
Lantheus Holdings Inc has recorded a decline in total debt over the last one year. It stood at $278.11 million as on Dec. 31, 2016, down 21.33 percent or $75.40 million from $353.51 million on Dec. 31, 2015. Total debt was 108.68 percent of total assets as on Dec. 31, 2016, compared with 145.85 percent on Dec. 31, 2015. Interest coverage ratio improved to 2.09 for the quarter from 1.75 for the same period last year.
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