Akorn Posts Loss In Q3; Adj. EPS Beats View - Quick Facts

(RTTNews) - Pharmaceutical company Akorn, Inc. (AKRX) Thursday posted third-quarter net loss of $11.7 million or $0.11 per share compared with a profit of $12.2 million or $0.11 per share last year. The company also modified its full-year earnings outlook. Excluding the impact of costs associated with price increases and other non-GAAP adjustments, the company earned $32.6 million or $0.27 per share. On average, 11 analysts polled by Thomson Reuters expected the company to earn $0.25 per share for the quarter. Analysts' estimates typically exclude special items. Quarterly revenues surged 62 percent to $132.7 million from $81.9 million a year ago. Analysts expected revenues of $155.23 million. Looking ahead, for the full year, the firm now expects adjusted earnings per share in a range of $1.13 - $1.15 versus the previous view of $1.13 - $1.18 and adjusted revenues in a range of $630 million - $640 million versus the earlier expectations of $605 million - $625 million. Analysts are looking for earnings of $1.03 per share, on revenues of $596.72 million.