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[posting]60914265[/posting]http://investors.akorn.com/news-releases/news-release-detail… LAKE FOREST, Ill., Aug. 01, 2019 (GLOBE NEWSWIRE) -- Akorn, Inc. (Nasdaq: AKRX), a leading specialty generic pharmaceutical company, today announced its preliminary financial results for the second quarter of 2019. Second Quarter 2019 and Recent Business Highlights • Net revenue was $178 million, up 7% from the first quarter of 2019, down 7% from the prior year quarter • Net loss was $112 million, compared to $82 million in the first quarter of 2019 and $88 million in the prior year quarter • Adjusted EBITDA was $22 million, compared to $10 million in the first quarter of 2019 and $35 million in the prior year quarter • Generated positive operating cash flow during the second quarter • Continued sequential reduction in backorders and failure to supply penalties • Launched three products: TheraTears\u00ae SteriLid\u00ae Antimicrobial, the first FDA Accepted Antimicrobial Eyelid Cleanser, Loteprednol Etabonate Ophthalmic Suspension, 0.5%, and Dicyclomine Hydrochloride Injection, USP • Received three ANDA approvals: Loteprednol Etabonate Ophthalmic Suspension, 0.5%, Fluticasone Propionate Nasal Spray USP, 50 mcg per spray (OTC), and Azelastine Hydrochloride Nasal Spray, 0.1% • Responded to FDA warning letter related to the 2018 inspection of our Somerset, NJ manufacturing facility • Reached non-binding agreement in principle with lead plaintiffs in the securities class action litigation See "Non-GAAP Financial Measures" below. Douglas Boothe, Akorn’s President and Chief Executive Officer, stated, “We are pleased that our second quarter results showed continued financial and operational improvements across the business, a strong signal that our operational initiatives are creating value and generating momentum. We saw reductions in backorders and failure to supply penalties, which have a direct impact on both financial performance and customer satisfaction.” Boothe continued, “As we look to the second half of 2019, we feel confident in the fundamentals of our business and believe that our focus on compliance, transparency, and accountability will allow us to execute against our strategic growth objectives. As such, we are updating our net loss guidance and affirming our net revenue and adjusted EBITDA guidance for the full year of 2019 as we strive to return the Company to a path of long-term profitable growth for our stakeholders.” .... (FC: Format) |
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| aus der Diskussion: | ANALYSE: Akorn-Aktie möglicherweise vor noch größerem Absturz - Raymond James |
| Autor (Datum des Eintrages): | faultcode (01.08.19 13:57:14) |
| Beitrag: | 103 von 146 (ID:61152113) |
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