BUFFALO GROVE, Ill.--(BUSINESS WIRE)--May 1, 2006--Akorn, Inc. (AMEX:AKN - News) today reported net sales of $29.7 million for the first quarter 2006, an increase of 192% vs. first quarter 2005 net sales of $10.2 million. Gross profit of $11.7 million or 39.5% of first quarter 2006 net sales, represents an increase of 251% vs. gross profit of $3.3 million or 32.8% of net sales for the first quarter 2005. Net income for the first quarter 2006 was $3.1 million, or $0.04 per diluted share vs. a $2.3 million net loss for the first quarter 2005 or $(0.13) per diluted share. Net income was adversely impacted by non-recurring interest expense of $1.1 million, due to the early retirement of convertible debt.
