Akorn (AKRX) Misses Q1 EPS by 9c

Akorn (NASDAQ: AKRX) reported Q1 EPS of $0.34, $0.09 worse than the analyst estimate of $0.43. Revenue for the quarter came in at $268 million versus the consensus estimate of $222.64 million.

Akorn Reaffirms 2016 Guidance:

The Company reaffirms 2016 guidance as reported on March 22, 2016 including the net revenue range of $1,060 - $1,080 million, diluted GAAP earnings per share range of $1.56 - $1.66 and diluted adjusted non-GAAP earnings per share range of $2.10 - $2.20. Akorn expects its adjusted tax rate to be approximately 37.0% for the full year 2016. Absent any significant business development transactions, Akorn expects to end 2016 with a net debt to adjusted EBITDA ratio of approximately 1.0x.

For earnings history and earnings-related data on Akorn (AKRX) click here.

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