LAKE FOREST, Ill. (AP) _ Akorn Inc. (AKRX) on Tuesday reported a loss of $82.2 million in its first quarter.
On a per-share basis, the Lake Forest, Illinois-based company said it had a loss of 65 cents. Losses, adjusted for one-time gains and costs, came to 10 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 14 cents per share.
The generic drugmaker posted revenue of $165.9 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $153 million.
Akorn expects full-year revenue in the range of $690 million to $710 million.
The company's shares closed at $3.03. A year ago, they were trading at $11.74.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AKRX at https://www.zacks.com/ap/AKRX