Gil Roth08.02.11
Akorn 2Q11
2Q Revenues: $32.1 million (+59%)
2Q Earnings: $17.9 million (loss of $9.4 million in 2Q10)
YTD Revenues: $57.6 million (+41%)
YTD Earnings: $23.8 million (loss of $5.9 million YTD10)
Comments: During 2Q11, Akorn acquired Advanced Vision Research (AVR), an OTC dry-eye marketer. Revenues from AVR accounted for 18 points of Akorn's 59% revenue boost. The remaining 41% growth was due to continued growth of new products, strong organic growth in established injectable and ophthalmic products, and an uptick in seasonal allergy ophthalmic sales. Net earnings were boosted $13.4 million by the sale to Pfizer of the company's share in the Akorn-Strides joint venture.
2Q Revenues: $32.1 million (+59%)
2Q Earnings: $17.9 million (loss of $9.4 million in 2Q10)
YTD Revenues: $57.6 million (+41%)
YTD Earnings: $23.8 million (loss of $5.9 million YTD10)
Comments: During 2Q11, Akorn acquired Advanced Vision Research (AVR), an OTC dry-eye marketer. Revenues from AVR accounted for 18 points of Akorn's 59% revenue boost. The remaining 41% growth was due to continued growth of new products, strong organic growth in established injectable and ophthalmic products, and an uptick in seasonal allergy ophthalmic sales. Net earnings were boosted $13.4 million by the sale to Pfizer of the company's share in the Akorn-Strides joint venture.