2016 Q4 Form 10-Q Financial Statement
#000119312516755496 Filed on November 01, 2016
Income Statement
Concept | 2016 Q4 | 2016 Q3 | 2015 Q3 |
---|---|---|---|
Revenue | $74.35M | $73.06M | $74.12M |
YoY Change | 4.42% | -1.43% | -2.06% |
Cost Of Revenue | $39.70M | $39.38M | $40.42M |
YoY Change | 4.97% | -2.56% | -8.23% |
Gross Profit | $34.65M | $33.68M | $33.71M |
YoY Change | 3.79% | -0.07% | 6.53% |
Gross Profit Margin | 46.6% | 46.1% | 45.47% |
Selling, General & Admin | $18.68M | $18.80M | $17.84M |
YoY Change | 4.18% | 5.37% | -7.89% |
% of Gross Profit | 53.92% | 55.81% | 52.93% |
Research & Development | $3.710M | $2.849M | $2.458M |
YoY Change | 20.85% | 15.91% | -19.38% |
% of Gross Profit | 10.71% | 8.46% | 7.29% |
Depreciation & Amortization | $5.060M | $3.840M | $1.900M |
YoY Change | 68.67% | 102.11% | -13.64% |
% of Gross Profit | 14.6% | 11.4% | 5.64% |
Operating Expenses | $22.39M | $21.65M | $20.30M |
YoY Change | 6.67% | 6.65% | -9.46% |
Operating Profit | $12.26M | $12.60M | $13.41M |
YoY Change | -1.08% | -6.06% | 45.41% |
Interest Expense | -$6.360M | $6.792M | $7.100M |
YoY Change | -19.08% | -4.34% | -167.62% |
% of Operating Profit | -51.89% | 53.93% | 52.95% |
Other Income/Expense, Net | $440.0K | -$148.0K | -$183.0K |
YoY Change | 0.0% | -19.13% | -141.5% |
Pretax Income | $5.740M | $4.240M | $6.125M |
YoY Change | 15.49% | -30.78% | -763.6% |
Income Tax | $880.0K | $20.00K | $739.0K |
% Of Pretax Income | 15.33% | 0.47% | 12.07% |
Net Earnings | $4.869M | $4.220M | $5.386M |
YoY Change | 24.34% | -21.65% | -721.22% |
Net Earnings / Revenue | 6.55% | 5.78% | 7.27% |
Basic Earnings Per Share | $0.13 | $0.14 | $0.18 |
Diluted Earnings Per Share | $0.13 | $0.13 | $0.18 |
COMMON SHARES | |||
Basic Shares Outstanding | 35.72M shares | 31.22M shares | 30.36M shares |
Diluted Shares Outstanding | 32.40M shares | 30.76M shares |
Balance Sheet
Concept | 2016 Q4 | 2016 Q3 | 2015 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $51.20M | $53.20M | $21.90M |
YoY Change | 79.02% | 142.92% | -19.19% |
Cash & Equivalents | $51.18M | $53.20M | $21.92M |
Short-Term Investments | |||
Other Short-Term Assets | $5.183M | $6.369M | $5.210M |
YoY Change | 34.59% | 22.25% | 24.05% |
Inventory | $17.64M | $16.06M | $16.58M |
Prepaid Expenses | |||
Receivables | $36.82M | $34.84M | $39.72M |
Other Receivables | $700.0K | $0.00 | $0.00 |
Total Short-Term Assets | $110.8M | $110.5M | $83.44M |
YoY Change | 23.12% | 32.4% | -6.67% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $94.19M | $84.98M | $92.39M |
YoY Change | -1.53% | -8.02% | -3.86% |
Goodwill | $15.71M | $15.71M | $15.71M |
YoY Change | 0.0% | 0.0% | |
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $20.00M | $19.73M | $20.12M |
YoY Change | -2.51% | -1.95% | -27.63% |
Total Long-Term Assets | $145.1M | $144.5M | $152.7M |
YoY Change | -4.79% | -5.37% | -10.49% |
TOTAL ASSETS | |||
Total Short-Term Assets | $110.8M | $110.5M | $83.44M |
Total Long-Term Assets | $145.1M | $144.5M | $152.7M |
Total Assets | $255.9M | $255.0M | $236.1M |
YoY Change | 5.58% | 7.98% | -9.18% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $18.94M | $13.62M | $10.70M |
YoY Change | 62.48% | 27.26% | -30.52% |
Accrued Expenses | $21.20M | $21.90M | $20.00M |
YoY Change | 14.59% | 9.5% | -43.02% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | ||
Long-Term Debt Due | $3.650M | $3.650M | $3.650M |
YoY Change | 0.0% | 0.0% | |
Total Short-Term Liabilities | $43.84M | $39.12M | $34.32M |
YoY Change | 23.41% | 13.98% | -42.42% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $274.5M | $294.6M | $350.4M |
YoY Change | -21.55% | -15.92% | -12.23% |
Other Long-Term Liabilities | $34.75M | $33.72M | $33.52M |
YoY Change | 1.77% | 0.59% | -16.21% |
Total Long-Term Liabilities | $309.2M | $328.3M | $383.9M |
YoY Change | -19.48% | -14.48% | -12.59% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $43.84M | $39.12M | $34.32M |
Total Long-Term Liabilities | $309.2M | $328.3M | $383.9M |
Total Liabilities | $362.4M | $376.1M | $426.3M |
YoY Change | -15.26% | -11.77% | -14.54% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$332.4M | -$337.3M | -$363.1M |
YoY Change | -7.45% | -7.11% | |
Common Stock | $226.8M | $217.2M | $175.4M |
YoY Change | 28.99% | 23.83% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | 0.000 shares | ||
Shareholders Equity | -$106.5M | -$121.2M | -$190.1M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $255.9M | $255.0M | $236.1M |
YoY Change | 5.58% | 7.98% | -9.18% |
Cashflow Statement
Concept | 2016 Q4 | 2016 Q3 | 2015 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $4.869M | $4.220M | $5.386M |
YoY Change | 24.34% | -21.65% | -721.22% |
Depreciation, Depletion And Amortization | $5.060M | $3.840M | $1.900M |
YoY Change | 68.67% | 102.11% | -13.64% |
Cash From Operating Activities | $12.78M | $15.44M | $5.420M |
YoY Change | 1.27% | 184.87% | -73.59% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$2.420M | -$2.590M | -$2.310M |
YoY Change | -48.84% | 12.12% | 26.92% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $60.00K | $1.550M | $0.00 |
YoY Change | -100.0% | ||
Cash From Investing Activities | -$2.360M | -$1.050M | -$2.310M |
YoY Change | -50.11% | -54.55% | 44.38% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -12.26M | -16.09M | -3.020M |
YoY Change | 1078.85% | 432.78% | -58.8% |
NET CHANGE | |||
Cash From Operating Activities | 12.78M | 15.44M | 5.420M |
Cash From Investing Activities | -2.360M | -1.050M | -2.310M |
Cash From Financing Activities | -12.26M | -16.09M | -3.020M |
Net Change In Cash | -1.840M | -1.700M | 90.00K |
YoY Change | -126.86% | -1988.89% | -99.22% |
FREE CASH FLOW | |||
Cash From Operating Activities | $12.78M | $15.44M | $5.420M |
Capital Expenditures | -$2.420M | -$2.590M | -$2.310M |
Free Cash Flow | $15.20M | $18.03M | $7.730M |
YoY Change | -12.39% | 133.25% | -65.4% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2016Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
2647000 | |
CY2016Q3 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
155338000 | |
CY2016Q3 | us-gaap |
Asset Retirement Obligation
AssetRetirementObligation
|
9165000 | |
CY2016Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
CY2016Q3 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
72174000 | |
CY2016Q3 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
CY2016Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
35714792 | shares |
CY2016Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
35714792 | shares |
CY2016Q3 | us-gaap |
Assets
Assets
|
254969000 | |
CY2016Q4 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
35724793 | shares |
CY2015Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
21922000 | |
CY2016Q3 | us-gaap |
Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
|
600000 | |
CY2016Q3 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
12216000 | |
CY2016Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
3341000 | |
CY2016Q3 | us-gaap |
Assets Current
AssetsCurrent
|
110465000 | |
CY2016Q3 | us-gaap |
Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
|
7676000 | |
CY2016Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
250000000 | shares |
CY2016Q3 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
216814000 | |
CY2016Q3 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
907000 | |
CY2016Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
53195000 | |
CY2016Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
1804000 | |
CY2016Q3 | us-gaap |
Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
|
8710000 | |
CY2016Q3 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
34844000 | |
CY2016Q3 | us-gaap |
Common Stock Value
CommonStockValue
|
357000 | |
CY2016Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
|
1277000 | |
CY2016Q3 | us-gaap |
Asset Retirement Obligation Current
AssetRetirementObligationCurrent
|
455000 | |
CY2016Q3 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
13617000 | |
CY2016Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense After Year Five
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|
5768000 | |
CY2016Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
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1569000 | |
CY2016Q3 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
1636000 | |
CY2016Q3 | us-gaap |
Accounts Payable And Other Accrued Liabilities Current
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|
21850000 | |
CY2016Q3 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
138932000 | |
CY2016Q3 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
3650000 | |
CY2016Q3 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
6369000 | |
CY2016Q3 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-1060000 | |
CY2016Q3 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
6951000 | |
CY2016Q3 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
CY2016Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
25000000 | shares |
CY2016Q3 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
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CY2016Q3 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
294582000 | |
CY2016Q3 | us-gaap |
Inventory Net
InventoryNet
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CY2016Q3 | us-gaap |
Liabilities
Liabilities
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376125000 | |
CY2016Q3 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
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254969000 | |
CY2016Q3 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
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CY2016Q3 | us-gaap |
Goodwill
Goodwill
|
15714000 | |
CY2016Q3 | us-gaap |
Other Liabilities Noncurrent
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|
33716000 | |
CY2016Q3 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
39117000 | |
CY2016Q3 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
1141000 | |
CY2016Q3 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
4509000 | |
CY2016Q3 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
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19728000 | |
CY2016Q3 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
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CY2016Q3 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
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4597000 | |
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Property Plant And Equipment Net
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Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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CY2016Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
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Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
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CY2016Q3 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
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Number Of Commercial Products
NumberOfCommercialProducts
|
9 | Item |
CY2016Q3 | lnth |
Property Plant And Equipment In Service
PropertyPlantAndEquipmentInService
|
79299000 | |
CY2016Q3 | lnth |
Accrued Freight Costs Current
AccruedFreightCostsCurrent
|
3435000 | |
CY2016Q3 | lnth |
Inventory Raw Materials Noncurrent
InventoryRawMaterialsNoncurrent
|
1200000 | |
CY2016Q3 | lnth |
Accrued Rebates Discounts And Chargebacks Current
AccruedRebatesDiscountsAndChargebacksCurrent
|
2593000 | |
CY2016Q3 | lnth |
Accrued Research And Development Costs Current
AccruedResearchAndDevelopmentCostsCurrent
|
229000 | |
CY2016Q3 | lnth |
Asset Retirement Obligation Liabilities Expected Present Value
AssetRetirementObligationLiabilitiesExpectedPresentValue
|
26100000 | |
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Consolidated Fixed Charge Coverage Ratio
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|
1 | pure |
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Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
19739000 | |
CY2015Q4 | us-gaap |
Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
|
490000 | |
CY2015Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
10525000 | |
CY2015Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
157057000 | |
CY2015Q4 | us-gaap |
Asset Retirement Obligation
AssetRetirementObligation
|
8145000 | |
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Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
CY2015Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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|
67260000 | |
CY2015Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
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CY2015Q4 | us-gaap |
Common Stock Shares Outstanding
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Common Stock Shares Issued
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CY2015Q4 | us-gaap |
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Assets
|
242379000 | |
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Assets Current
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90006000 | |
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CapitalizedComputerSoftwareNet
|
9137000 | |
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Common Stock Shares Authorized
CommonStockSharesAuthorized
|
250000000 | shares |
CY2015Q4 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
175553000 | |
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Allowance For Doubtful Accounts Receivable Current
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|
881000 | |
CY2015Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
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28596000 | |
CY2015Q4 | us-gaap |
Asset Retirement Obligations Noncurrent
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CY2015Q4 | us-gaap |
Accounts Receivable Net Current
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37293000 | |
CY2015Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
303000 | |
CY2015Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
11657000 | |
CY2015Q4 | us-gaap |
Accrued Professional Fees Current
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|
1493000 | |
CY2015Q4 | us-gaap |
Accounts Payable And Other Accrued Liabilities Current
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|
18502000 | |
CY2015Q4 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-1985000 | |
CY2015Q4 | us-gaap |
Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
|
4644000 | |
CY2015Q4 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
7506000 | |
CY2015Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
CY2015Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
25000000 | shares |
CY2015Q4 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
349858000 | |
CY2015Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
136561000 | |
CY2015Q4 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
3650000 | |
CY2015Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
3851000 | |
CY2015Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
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CY2015Q4 | us-gaap |
Inventory Net
InventoryNet
|
15622000 | |
CY2015Q4 | us-gaap |
Liabilities
Liabilities
|
427668000 | |
CY2015Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
242379000 | |
CY2015Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
20496000 | |
CY2015Q4 | us-gaap |
Goodwill
Goodwill
|
15714000 | |
CY2015Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
34141000 | |
CY2015Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
35524000 | |
CY2015Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
587000 | |
CY2015Q4 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
5709000 | |
CY2015Q4 | us-gaap |
Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
|
1715000 | |
CY2015Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
20509000 | |
CY2015Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
||
CY2015Q4 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
2407000 | |
CY2015Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
86517000 | |
CY2015Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
144678000 | |
CY2015Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-185289000 | |
CY2015Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-359160000 | |
CY2015Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2015Q4 | lnth |
Property Plant And Equipment In Service
PropertyPlantAndEquipmentInService
|
77418000 | |
CY2015Q4 | lnth |
Accrued Freight Costs Current
AccruedFreightCostsCurrent
|
2962000 | |
CY2015Q4 | lnth |
Inventory Raw Materials Noncurrent
InventoryRawMaterialsNoncurrent
|
1200000 | |
CY2015Q4 | lnth |
Accrued Rebates Discounts And Chargebacks Current
AccruedRebatesDiscountsAndChargebacksCurrent
|
2085000 | |
CY2015Q4 | lnth |
Accrued Research And Development Costs Current
AccruedResearchAndDevelopmentCostsCurrent
|
360000 | |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
2183000 | ||
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
33773000 | ||
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LANTHEUS HOLDINGS, INC. | ||
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2016-09-30 | ||
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 18pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> <b>1. Business Overview</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> <i>Description of Business</i></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> Holdings, a Delaware corporation, is the parent company of LMI, also a Delaware corporation.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> The Company develops, manufactures and commercializes innovative diagnostic medical imaging agents and products that assist clinicians in the diagnosis and treatment of cardiovascular and other diseases. The Company’s commercial products are used by cardiologists, nuclear physicians, radiologists, internal medicine physicians, sonographers, and technologists working in a variety of clinical settings. The Company sells its products to radiopharmacies, hospitals, clinics, group practices, integrated delivery networks and group purchasing organizations. The Company sells its products globally and has operations in the United States, Puerto Rico and Canada and third-party distribution relationships in Europe, Australia, Asia Pacific and Latin America.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> The Company’s portfolio of nine commercial products is diversified across a range of imaging procedures. The Company’s imaging agents and products include the following:</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px">  </p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: "Times New Roman"; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="5%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left">DEFINITY is the leading ultrasound contrast imaging agent used by cardiologists and sonographers during cardiac ultrasound, or echocardiography, exams based on revenue and usage. DEFINITY is an injectable agent that, in the United States, is indicated for use in patients with suboptimal echocardiograms to assist in the visualization of the left ventricle, the main pumping chamber of the heart. The use of DEFINITY in echocardiography allows physicians to significantly improve their assessment of the function of the left ventricle.</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px">  </p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: "Times New Roman"; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="5%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left">TechneLite is a self-contained system, or generator, of technetium (Tc99m), a radioisotope with a six hour half-life, used by radiopharmacies to prepare various nuclear imaging agents.</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px">  </p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: "Times New Roman"; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="5%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left">Xenon Xe 133 Gas (“Xenon”) is a radiopharmaceutical gas that is inhaled and used to assess pulmonary function and also cerebral blood flow.</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px">  </p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: "Times New Roman"; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="5%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left">Neurolite is an injectable, technetium-labeled imaging agent used with Single Photon Emission Computed Tomography (“SPECT”), technology to identify the area within the brain where blood flow has been blocked or reduced due to stroke.</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px">  </p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: "Times New Roman"; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="5%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left">Cardiolite is an injectable, technetium-labeled imaging agent, also known by its generic name Sestamibi, used with SPECT technology in myocardial perfusion imaging (“MPI”), procedures that assess blood flow distribution to the heart.</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> In the United States, the Company sells DEFINITY through its sales team that calls on healthcare providers in the echocardiography space, as well as group purchasing organizations and integrated delivery networks. The Company’s radiopharmaceutical products are primarily distributed through third party commercial radiopharmacies.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> The Company’s International operations consist of sales directly to end users through its wholly owned radiopharmacy in Puerto Rico and sales through the Company’s distributors in Canada, Europe, Australia, Asia Pacific and Latin America.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 18pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> <i>Basis of Presentation</i></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. These condensed consolidated financial statements and accompanying notes are unaudited and should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 filed with the SEC on March 2, 2016 and updated, as necessary, in this quarterly report. There were no other changes to the Company’s accounting policies since December 31, 2015.</p> <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px">  </p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> In the opinion of management, the accompanying unaudited condensed consolidated financial statements of Lantheus Holdings, Inc. include all normal and recurring adjustments necessary for a fair statement of the Company’s condensed consolidated financial position as of September 30, 2016 and December 31, 2015, results of operations and comprehensive earnings for the three and nine months ended September 30, 2016 and 2015, and cash flows for the nine months ended September 30, 2016 and 2015. The results of operations for the nine months ended September 30, 2016 are not necessarily indicative of the operating results to be expected for the full fiscal year or any future period.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 18pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> <i>Principles of Consolidation</i></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 18pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> <i>Manufacturing and Customer Concentrations, Liquidity and Management’s Plans</i></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> The Company currently relies on Jubilant HollisterStier (“JHS”) as its sole source manufacturer of DEFINITY, Neurolite and evacuation vials for TechneLite. The Company recently completed its technology transfer activities at JHS and received Food and Drug Administration (“FDA”) approval for its Cardiolite product supply. The Company has technology transfer activities ongoing at Pharmalucence for the manufacture and supply of DEFINITY, but such activities have been further delayed and the Company cannot predict when or if Pharmalucence will be able to manufacture and supply DEFINITY.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> Until the Company successfully becomes dual sourced for its principal products, the Company is vulnerable to future supply shortages. Disruption in the financial performance of the Company could also occur if it experiences significant adverse changes in customer mix, broad economic downturns, adverse industry or Company conditions or catastrophic external events. If the Company experiences one or more of these events in the future, it may be required to implement additional expense reductions, such as a delay or elimination of discretionary spending in all functional areas, as well as scaling back select operating and strategic initiatives.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> The Company has historically been dependent on key customers and group purchasing organizations for the majority of the sales of its medical imaging products. The Company’s ability to maintain and profitably renew those contracts and relationships with those key customers and group purchasing organizations is an important aspect of the Company’s strategy.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> Borrowing capacity under the Company’s $50.0 million revolving credit facility (the “Revolving Facility”), is calculated by reference to a borrowing base consisting of a percentage of certain eligible accounts receivable, inventory and machinery and equipment minus any reserves (the “Borrowing Base”). If the Company is not successful in achieving its forecasted operating results, the Company’s accounts receivable and inventory could be negatively affected, thus reducing the Borrowing Base and limiting the Company’s borrowing capacity. As of September 30, 2016, the aggregate Borrowing Base was approximately $40.4 million, which was reduced by the $8.8 million unfunded Standby Letter of Credit and $0.1 million in accrued interest, resulting in a net Borrowing Base availability of approximately $31.5 million. The Company’s senior secured term loan facility (the “Term Facility”), contains a number of affirmative, negative, reporting and financial covenants, in each case subject to certain exceptions and materiality thresholds. Incremental borrowings under the Revolving Facility may affect the Company’s ability to comply with the covenants in the Term Facility, including the financial covenant restricting total net leverage. Accordingly, the Company may be limited in utilizing its net Borrowing Base availability as a source of liquidity.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> Based on the Company’s current operating plans, the Company believes its existing cash and cash equivalents, results of operations and availability under the Revolving Facility will be sufficient to continue to fund the Company’s liquidity requirements for at least the next twelve months.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 18pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> <i>Use of Estimates</i></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. The more significant estimates reflected in the Company’s condensed consolidated financial statements include certain judgments regarding revenue recognition, goodwill, tangible and intangible asset valuation, inventory valuation, asset retirement obligations, income tax liabilities and related indemnification receivable, deferred tax assets and liabilities and accrued expenses. Actual results could materially differ from those estimates or assumptions.</p> <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px">  </p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> <i>Recent Accounting Pronouncements</i></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> In August 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-15, <i>Statement of Cash Flows (Topic 230) – Classification of Certain cash Receipts and Cash Payments</i>. ASU 2016-15 will make eight targeted changes to how certain cash receipts and cash payments are presented and classified in the statement of cash flows in order to reduce existing diversity in practice. ASU 2016-15 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. Adoption is required on a retrospective basis unless it is impracticable to apply, in which case the amendments for those issues are to be applied prospectively as of the earliest date practicable. The Company is currently evaluating the impact this ASU will have on our cash flows and disclosures.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> In March 2016, the FASB, issued ASU 2016-09, <i>Compensation – Stock Compensation (Topic 719), Improvements to Employee Share-Based Payment Accounting</i>. ASU 2016-09 simplifies several aspects of accounting for employee share-based payment transactions, including the accounting for income tax consequences, the classification of awards as either equity or liabilities, an accounting policy election for forfeitures, statutory tax withholding requirements and certain classifications on the statement of cash flows. ASU 2016-09 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those annual reporting periods. Early adoption is permitted. The Company is currently evaluating the impact this ASU will have on our financial position, results of operations, cash flows and disclosures.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> In February 2016, the FASB, issued ASU 2016-02, <i>Leases (Topic 842)</i>. ASU 2016-02 supersedes the existing guidance for lease accounting, <i>Leases (Topic 840)</i>. ASU 2016-02 was issued to increase transparency and comparability among organizations by requiring lessees to recognize all lease transactions (with terms in excess of 12 months) on the balance sheet as a lease liability and a right-of-use asset (as defined). The accounting for lessors remains largely unchanged. ASU 2016-02 retains a distinction between finance leases and operating leases. For leases with a term of twelve months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize a lease liability and right-of-use asset. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application is permitted for all entities. ASU 2016-02 requires a modified retrospective approach for all leases existing at, or entered into after, the date of initial application, with an option to elect to use certain transition relief. The Company is currently evaluating the impact this ASU will have on our financial position, results of operations, cash flows and disclosures.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> In May 2014, the FASB issued ASU 2014-09, <i>Revenue from Contracts with Customers (Topic 606</i>) or ASU 2014-09. ASU 2014-09 represents a comprehensive new revenue recognition model that requires a company to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which a company expects to be entitled to receive in exchange for those goods or services. This ASU sets forth a new five-step revenue recognition model which replaces the prior revenue recognition guidance in its entirety and is intended to eliminate numerous industry-specific pieces of revenue recognition guidance that have historically existed. In August 2015, the FASB issued ASU 2015-14, <i>Revenue from Contracts with Customers (Topic 606), Deferral of the Effective Date</i>, which defers the effective date of ASU 2014-09 to annual reporting periods beginning after December 15, 2017 with early adoption permitted as of its original effective date of December 15, 2016. In March 2016 and April 2016, the FASB issued ASU 2016-08, <i>Revenue from Contracts with Customers (Topic 606), Principal versus Agent Considerations (Reporting Revenue Gross versus Net) </i>and ASU 2016-10, <i>Revenue from Contracts with Customers (Topic 606), Identifying Performance Obligations and Licensing,</i> respectively, which further clarifies the implementation guidance on principal versus agent considerations, identification of performance obligations and accounting for intellectual property licenses. In May 2016, the FASB issued ASU 2016-12, <i>Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients </i>or ASU 2016-12, which provides clarification on assessing the collectability criterion, presentation of sales taxes, measurement date for noncash consideration and completed contracts at transition. The Company is currently evaluating the impact these ASUs will have on our financial position, results of operations, cash flows and disclosures.</p> </div> | ||
us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
36861000 | ||
us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
445000 | ||
us-gaap |
Interest Revenue Expense Net
InterestRevenueExpenseNet
|
-20782000 | ||
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
41600000 | ||
us-gaap |
Use Of Estimates
UseOfEstimates
|
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <i>Use of Estimates</i></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. The more significant estimates reflected in the Company’s condensed consolidated financial statements include certain judgments regarding revenue recognition, goodwill, tangible and intangible asset valuation, inventory valuation, asset retirement obligations, income tax liabilities and related indemnification receivable, deferred tax assets and liabilities and accrued expenses. Actual results could materially differ from those estimates or assumptions.</p> </div> | ||
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
31049351 | shares | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
|
P10Y | ||
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
30657623 | shares | |
us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
61000 | ||
dei |
Trading Symbol
TradingSymbol
|
LNTH | ||
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
8493000 | ||
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
61000 | ||
us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
27856000 | ||
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1869000 | ||
us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
57790000 | ||
us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
2 | Segment | |
lnth |
Payment For Initial Public Offering Cost
PaymentForInitialPublicOfferingCost
|
1266000 | ||
lnth |
Debt Retirement Cost
DebtRetirementCost
|
1415000 | ||
lnth |
Financial Assurance In Form Of Surety Bond
FinancialAssuranceInFormOfSuretyBond
|
28200000 | ||
lnth |
Tax Indemnification Income Loss
TaxIndemnificationIncomeLoss
|
632000 | ||
lnth |
Incremental Common Shares Attributable To Restricted Stock Awards
IncrementalCommonSharesAttributableToRestrictedStockAwards
|
391728 | shares | |
lnth |
Financial Assurance In Form Of Letter Of Credit
FinancialAssuranceInFormOfLetterOfCredit
|
8800000 | ||
lnth |
Percentage Of Greatest Amount Of Letter Of Credit Drawn
PercentageOfGreatestAmountOfLetterOfCreditDrawn
|
1.05 | pure | |
lnth |
Other Nonoperating Income Expense Others
OtherNonoperatingIncomeExpenseOthers
|
-2000 | ||
lnth |
Operating Expenses Before Gain Loss On Sale Of Assets
OperatingExpensesBeforeGainLossOnSaleOfAssets
|
65191000 | ||
lnth |
Other Comprehensive Income Loss Reclassification Adjustment Due To Sale Of Group Of Assets Liabilities Not Qualifying As Discontinued Operations
OtherComprehensiveIncomeLossReclassificationAdjustmentDueToSaleOfGroupOfAssetsLiabilitiesNotQualifyingAsDiscontinuedOperations
|
-435000 | ||
CY2015Q3 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
9206000 | |
CY2015Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.18 | |
CY2015Q3 | us-gaap |
Depreciation
Depreciation
|
1900000 | |
CY2015Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.18 | |
CY2015Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
4943000 | |
CY2015Q3 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
1500000 | |
CY2015Q3 | us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
40418000 | |
CY2015Q3 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-628000 | |
CY2015Q3 | us-gaap |
Revenues
Revenues
|
74123000 | |
CY2015Q3 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-183000 | |
CY2015Q3 | us-gaap |
Gross Profit
GrossProfit
|
33705000 | |
CY2015Q3 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-443000 | |
CY2015Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
6125000 | |
CY2015Q3 | us-gaap |
Interest Expense
InterestExpense
|
7100000 | |
CY2015Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
5386000 | |
CY2015Q3 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
112344 | shares |
CY2015Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
13408000 | |
CY2015Q3 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
-443000 | |
CY2015Q3 | lnth |
Tax Indemnification Income Loss
TaxIndemnificationIncomeLoss
|
439000 | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
877000 | ||
lnth |
Debt Retirement Cost
DebtRetirementCost
|
1415000 | ||
lnth |
Tax Indemnification Income Loss
TaxIndemnificationIncomeLoss
|
196000 | ||
lnth |
Incremental Common Shares Attributable To Restricted Stock Awards
IncrementalCommonSharesAttributableToRestrictedStockAwards
|
1084571 | shares | |
lnth |
Other Nonoperating Income Expense Others
OtherNonoperatingIncomeExpenseOthers
|
-1000 | ||
lnth |
Operating Expenses Before Gain Loss On Sale Of Assets
OperatingExpensesBeforeGainLossOnSaleOfAssets
|
21646000 | ||
CY2015Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
739000 | |
CY2015Q3 | us-gaap |
Interest Revenue Expense Net
InterestRevenueExpenseNet
|
-7100000 | |
CY2015Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
30761771 | shares |
CY2015Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
30359516 | shares |
CY2015Q3 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
2458000 | |
CY2015Q3 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
8633000 | |
CY2015Q3 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
591000 | |
CY2015Q3 | lnth |
Incremental Common Shares Attributable To Restricted Stock Awards
IncrementalCommonSharesAttributableToRestrictedStockAwards
|
289911 | shares |
CY2015Q3 | lnth |
Other Nonoperating Income Expense Others
OtherNonoperatingIncomeExpenseOthers
|
6000 | |
CY2015Q3 | lnth |
Operating Expenses Before Gain Loss On Sale Of Assets
OperatingExpensesBeforeGainLossOnSaleOfAssets
|
20297000 | |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
10091000 | ||
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.14 | ||
us-gaap |
Depreciation
Depreciation
|
2100000 | ||
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.13 | ||
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
4889000 | ||
us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
1300000 | ||
us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
39382000 | ||
us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-349000 | ||
us-gaap |
Revenues
Revenues
|
73063000 | ||
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-154000 | ||
us-gaap |
Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
|
560000 | ||
us-gaap |
Gross Profit
GrossProfit
|
33681000 | ||
us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
669000 | ||
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
4240000 | ||
us-gaap |
Interest Expense
InterestExpense
|
6786000 | ||
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
4220000 | ||
us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
96849 | shares | |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
12595000 | ||
us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
234000 | ||
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
20000 | ||
us-gaap |
Interest Revenue Expense Net
InterestRevenueExpenseNet
|
-6786000 | ||
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
32402297 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
31220877 | shares | |
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
2849000 | ||
us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
8706000 | ||
lnth |
Other Comprehensive Income Loss Reclassification Adjustment Due To Sale Of Group Of Assets Liabilities Not Qualifying As Discontinued Operations
OtherComprehensiveIncomeLossReclassificationAdjustmentDueToSaleOfGroupOfAssetsLiabilitiesNotQualifyingAsDiscontinuedOperations
|
-435000 |