Specialty drugmaker Akorn (AKRX) on Tuesday reported first-quarter EPS above views, but revenue was light. The company also raised its full-year profit outlook. Lake Forest, Ill.-based Akorn said that it earned 16 cents per share in the three months ended March 31, up 23% from a year earlier. Revenue also rose 23% to $90.6 million. Analysts had estimated profit of 15 cents and revenue of $91.44 million. For the full year, Akorn said that it
Specialty drugmaker Akorn’s Q4 earnings met estimates Monday, but its 2014 guidance and a new accounting problem halted the IBD 50 stock dead in its tracks. Akorn (AKRX) said profit totaled 14 cents a share, up a penny from the year-earlier quarter and identical to analyst consensus. Sales rose 19% to $85 million, a bit above analysts’ $83 million. For the full 2013, sales rose 24% to $318 million while net income climbed 6% to 55 cents a share.
Specialty drugmaker Akorn (AKRX) Monday reported a Q4 in line with estimates, but it guided 2014 below expectations and shares plummeted 15% in early trading in the stock market today. The company said profit totaled 14 cents a share, up a penny from the year-earlier quarter and identical to consensus. Sales rose 19% to $85 million, a bit above analysts’ $83 million. For the full 2013, sales rose 24% to $318 million while net income climbed 6% to