Akorn, Inc. Reports First Quarter 2007 Financial Results
BUFFALO GROVE, Ill.--(BUSINESS WIRE)--Akorn, Inc. (NASDAQ:AKRX) a specialty pharmaceutical company, today reported financial results for the first quarter ended March 31, 2007. Total revenue for the first quarter 2007 was $11.7 million as compared to $29.7 million in the first quarter 2006. In the first quarter of 2006, the Company recognized $22.0 million of Ca-DTPA and Zn-DTPA revenue through a contract with the Department of Health and Human Services. Gross profit for the first quarter 2007 was $2.5 million as compared to $11.7 million in the first quarter 2006. The decline in gross profit was primarily impacted by first quarter 2006 DTPA revenues, which contributed $9.7 million in gross profit.