Business
Lantheus Holdings, Inc. Reports Preliminary Q1 Revenue Near Top End of Previously Disclosed Guidance Range; Withdraws 2020 Financial Guidance
NORTH BILLERICA, Mass.--(BUSINESS WIRE)-- Lantheus Holdings, Inc. (NASDAQ: LNTH) (“Lantheus” or the “Company”), parent company of Lantheus Medical Imaging,
About this update from Lantheus Holdings, Inc.
[{"type":"text","content":" NORTH BILLERICA, Mass.--(BUSINESS WIRE)--\nLantheus Holdings, Inc. (NASDAQ: LNTH) (“Lantheus” or the “Company”), parent company of Lantheus Medical Imaging, Inc. (“LMI”), a leader in the development, manufacture and commercialization of innovative diagnostic imaging agents announced today that its preliminary unaudited revenue for the fiscal first quarter ended March 31, 2020 will be near the top end of previously disclosed guidance range issued on February 25, 2020.\n\n\n“For the first quarter of 2020, business results through the first two months were ahead of Company expectations,” said Mary Anne Heino, President and CEO. “However, as COVID-19 reached a global pandemic level in March, procedural volumes declined. Although we do not currently have visibility as to the scope and duration of the pandemic’s effect on our business, we believe that our healthy cash position and strong balance sheet should provide us the necessary liquidity to weather this current business environment, and we look forward to executing our strategy for future growth and the creation of stockholder value.”\n\n\nWe are anticipating that the second quarter impact of the COVID-19 pandemic on our business will be more significant than the first quarter of 2020. As such, Lantheus is taking proactive steps to reduce costs until healthcare systems begin to recover and elective procedures start to return to historical levels. During this period, Lantheus remains in a strong position to support the needs of our customers and patients. The Company has also strategically implemented precautionary measures in an effort to improve business continuity capabilities in its management, supply chain and manufacturing facilities.\n\n\nAs a result of the continued uncertainties surrounding the scope and duration of the COVID-19 pandemic, Lantheus is withdrawing its full year 2020 revenue, revenue growth, and adjusted fully diluted earnings per share guidance. Due to these uncertainties, and uncertain timing of global recovery and economic normalization, Lantheus is unable to estimate the overall impacts on its operations and financial results, which will likely be material. Lantheus plans to provide further updates in its next earnings release and conference call, currently scheduled for April 30, 2020.\n\n\nThe financial information included in this release at and for ...