Akorn: 2Q Earnings Snapshot
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.