NEW YORK (TheStreet) -- Shares of Lannett Co. (LCI) are soaring, up 8.21% to $41.01, after the generic pharmaceutical products company said that it expects to report fiscal 2014 fourth quarter net sales of about $81 million and diluted earnings per share in the range of 60 cents and 64 cents.
That compares with the FactSet consensus estimates of 42 cents per share and $71.7 million in net sales.
For the prior year fourth quarter, net sales were $40.2 million and diluted earnings per share were 12 cents.
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Lannett will report its financial results for fiscal 2014 on August 27 after the market close.
TheStreet Ratings team rates LANNETT CO INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate LANNETT CO INC (LCI) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."