Akorn Inc. (AKRX: Quote) said Thursday that it has reaffirmed the previously issued guidance for 2012 and provided full year 2013 financial guidance.
While announcing the third-quarter result, the company anticipated 2012 revenues will be in the mid-range of our previously issued guidance of $248 million to $258 million. The company estimated 2012 non-GAAP adjusted net income per share consistent with its previously issued guidance of $0.50 to $0.52. Analysts polled by Thomson Reuters expect the company to report earnings of $0.51 per share on revenues of $253.84 million for fiscal 2012. Analysts’ estimates typically exclude special items.
Looking ahead for fiscal 2013, the company anticipates GAAP net income of $53 million – $57 million or $0.46 – $0.50 per share and adjusted net income to be in the range of $65 million – $69 million or $0.57 – $0.61. Total revenues are expected to be in the range of $325 million – $335 million. Analysts expect the company to report earnings of $0.66 per share on revenues of $330.73 million for fiscal 2013.
Overall gross margins for 2013 are expected to be in the range of 54%-56% as a result of growth from lower margin new products that are either partnered with shared economics, in-licensed or are contract manufactured for Akorn.
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by RTT Staff Writer
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