Akorn Widens FY19 Loss Outlook, But Affirms Revenue Forecast - Quick Facts

(RTTNews) - While reporting financial results for the second quarter, generic pharmaceutical company Akorn, Inc. (AKRX) on Thursday widened its net loss guidance for the full-year 2019, while affirming net revenue outlook.

For fiscal 2019, the company now projects net loss in the range of $273 million to $258 million, an increase of $107 million from the initial guidance, primarily driven by the estimated charge related to the securities class action litigation non-binding agreement in principle as well as the impact of its previously disclosed Standstill Agreement.

Net revenue for the year are continued to be expected in the range of $690 million to $710 million.

On average, analysts polled by Thomson Reuters expect the company to report a loss of $0.18 per share on revenues of $692.99 million for the year. Analysts' estimates typically exclude special items.