Akorn, Inc.
Akorn reports first quarter 2006 revenues of almost $30 million
Published in Medical Device Business Week, June 7th, 2006
Gross profit of $11.7 million or 39.5% of first quarter 2006 net sales, represents an increase of 251% vs. gross profit of $3.3 million or 32.8% of net sales for the first quarter 2005. Net income for the first quarter 2006 was $3.1 million, or $0.04 per diluted share vs. a $2.3 million net loss for the first quarter 2005 or $0.13 per diluted share.
Net income was adversely impacted by non-recurring interest expense of $1.1 million, due to the early retirement of convertible debt.
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