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Akorn posts $2.8 million net loss, 82% rise in revenue in second quarter

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BUFFALO GROVE, Ill. — Akorn reported a second-quarter net loss of approximately $2.8 million, or $0.03 per diluted share, compared with a net loss of $4.6 million, or $0.05 per diluted share, during the second quarter of 2007, the company announced in a press release.

Second-quarter revenue totaled $21.2 million, representing an 82% increase compared with $11.6 million during the same period last year, the release said.

Second-quarter ophthalmic business segment revenues totaled $4.3 million, up 10% compared with revenues during last year's second quarter.

Gross profit for the quarter totaled $4.8 million, representing a 67% increase over $2.9 million during the same period last year, according to the release.