Lantheus Holdings Inc. (NASDAQ: LNTH)’s 2Q2016 results delivered some pleasant surprises. Revenue grew YoY and also exceeded internal guidance. The company reported a profit in the latest quarter in a place of a loss in the year-ago quarter.
How did the topline compare with the forecast and Street estimate?
Lantheus Holdings Inc. (NASDAQ: LNTH) reported revenue of $78 million in 2Q2016, indicating an increase of 6% YoY. In constant currency term, revenue rose 7% YoY. The reported topline exceeded Lantheus’ own internal guidance of $72 to $74 million. The revenue figure also surpassed the consensus estimate of $72.7 million.
Lantheus’ revenue gains in the latest quarter were supported by strong sales of its DEFINITY and TechneLite products. Sales of TechneLite actually rose 45% YoY thanks largely to the contracts that Lantheus has with key radiopharmacy customers. The company is looking for more such deals to fuel its topline growth.
Lantheus swings to a profit
Lantheus Holdings Inc. (NASDAQ: LNTH) posted EPS of $0.24, thus more than offsetting the EPS loss of $1.29 in the year ago quarter. Analysts on the other hand were looking for EPS of $0.06. Revenue growth and lower interest expenses support the bottom-line improvement in the latest quarter.
Lantheus said its adjusted EBITDA rose to $21.4 million or 27.5% of revenue. Adjusted EBITDA in the year-ago quarter was $18 million or 24.5% of revenue. The management of Lantheus said that the increase in revenue was supported by strong DEFINITY sales in the latest quarter.
The outlook for Lantheus Holdings Inc. (NASDAQ: LNTH)
What does the management of Lantheus Holdings Inc. (NASDAQ: LNTH) think about the future? Lantheus raised its guidance for the current quarter and year. As such, the company is looking for 3Q2016 revenue in the band of $68 to $70 million. Adjusted EBITDA for the quarter is expected in the range of $14 to $16 million.
As for the full-year 2016, Lantheus is looking for revenue of $291 to $295 million.