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Akorn: 2Q Earnings Snapshot

August 1, 2019

LAKE FOREST, Ill. (AP) _ Akorn Inc. (AKRX) on Thursday reported a loss of $111.6 million in its second quarter.

The Lake Forest, Illinois-based company said it had a loss of 89 cents per share. Losses, adjusted for non-recurring costs and amortization costs, were 2 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.

The generic drugmaker posted revenue of $178.1 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $172.4 million.

Akorn expects full-year revenue in the range of $690 million to $710 million.

The company’s shares closed at $3.72. A year ago, they were trading at $18.52.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AKRX at https://www.zacks.com/ap/AKRX

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