Akorn (AKRX) Tops Q1 EPS by 10c, Guidance Tops Views, Announces Standstill Agreement

Akorn (NASDAQ: AKRX) reported Q1 EPS of ($0.10), $0.10 better than the analyst estimate of ($0.20). Revenue for the quarter came in at $166 million versus the consensus estimate of $153.52 million.

GUIDANCE:

Akorn sees FY2018 revenue of $690-710 million, versus the consensus of $633.47 million.

Net Loss expected in the range of ($166) to ($151) million
Adjusted EBITDA expected in the range of $71 to $86 million
Approximately $40 million in capital expenditures
Approximately $40 million for data integrity investigation and FDA compliance related expenditures

Standstill Agreement

We have been working constructively with our creditors and are pleased to have reached an agreement that is expected to provide Akorn time to continue to make progress on operational initiatives and deliver improved results, while also providing the lending institutions with additional transparency, reduced risk and enhanced protections. For further information, we refer you to the Current Report on Form 8-K filed earlier today, which details the economic and non-economic terms of such agreement, including the covenants and other protections that we are providing to our lending institutions.

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

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