Akorn, Inc. Affirms Earnings Guidance for the Full Year 2019; Reports Impairment Charges for the Quarter Ended June 30, 2019
August 01, 2019 at 12:00 pm
Akorn, Inc. affirmed earnings guidance for the full year 2019. For the year, the company expects net revenue to be in the range of $690 to $710 million and net loss is expected to be in the range of $273 million to $258 million, an increase of $107 million from 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 previously disclosed Standstill Agreement.
For the quarter ended June 30, 12019, the company reported impairment of intangible assets was $394,000 compare to $64,534,000 for the same period a year ago.