LAKE FOREST, Ill. (AP) _ Akorn Inc. (AKRX) on Wednesday reported a loss of $80.7 million in its fourth quarter.
The Lake Forest, Illinois-based company said it had a loss of 64 cents per share. Losses, adjusted for one-time gains and costs, came to 7 cents per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.
The generic drugmaker posted revenue of $162.3 million in the period, also missing Street forecasts. Four analysts surveyed by Zacks expected $174.6 million.
For the year, the company reported net income of $226.8 million, or $1.80 per share, swinging to a profit in the period. Revenue was reported as $682.4 million.
The company's shares closed at $1.26. A year ago, they were trading at $4.12.