Doug:< AKRN > Some FA, including Insider Buying/Selling, Holdings, Earnings Est., and a Ton of Financial Numbers to chew on!
INSIDER BUYING AKORN INC.
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NAME DIRECT
TITLE DATE SHARES SHARE TOTAL OR
TRANSACTION TYPE BOUGHT BOUGHT PRICE HOLDINGS INDIRECT
KAPOOR JOHN N
OWNER MORE THAN 10% 01/22/98 5,000 2.06 5,000 D
ACQ BY EXER OF OPTION COM
KAPOOR JOHN N
OWNER MORE THAN 10% 12/30/97 1,000,000 2.00 4,232,400 I
ACQ BY EXER OF OPTION COM
BRUHL DANIEL E
DIRECTOR 05/21/97 6,250 2.24 197,501 D
OPEN MARKET PURCHASE COM
CAMPBELL JOHN E
RETIRED 03/05/97 9,200 2.38 -- D
OPEN MARKET PURCHASE COM
INSIDER BUYING AKORN INC.
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NAME DIRECT
TITLE DATE SHARES SHARE TOTAL OR
TRANSACTION TYPE BOUGHT BOUGHT PRICE HOLDINGS INDIRECT
CAMPBELL JOHN E
RETIRED 03/05/97 15,800 2.31 -- D
OPEN MARKET PURCHASE COM
KAPOOR JOHN N
OFF, DIR, OWNER 10% 12/31/96 6,000 1.81 3,277,000 D
OPEN MARKET PURCHASE COM
KAPOOR JOHN N
OFF, DIR, OWNER 10% 12/19/96 10,000 1.75 -- D
OPEN MARKET PURCHASE COM
KAPOOR JOHN N
OFF, DIR, OWNER 10% 12/11/96 5,000 1.88 -- D
OPEN MARKET PURCHASE COM
*********
INSIDER SELLING AKORN INC.
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NAME DIRECT
TITLE DATE SHARES SHARE TOTAL OR
TRANSACTION TYPE SOLD SOLD PRICE HOLDINGS INDIRECT
KAPOOR JOHN N
OWNER MORE THAN 10% 12/23/97 44,600 N/A -- I
DISPOSED BY GIFT COM
GAW DOYLE S
DIRECTOR 10/23/97 13,000 3.75 115,824 D
OPEN MARKET SALE COM
CAMPBELL JOHN E
RETIRED 03/25/97 10,000 2.56 173,691 D
OPEN MARKET SALE COM
GAW DOYLE S
DIRECTOR 03/14/97 2,000 2.88 128,824 D
OPEN MARKET SALE COM
**************
WATCH AKORN INC
LIST OF 5% OWNERS AND RECENT HOLDINGS
NAME TOTAL FILING LAST STOCK
HOLDINGS TYPE FILING TYPE
DATE
HAUGHEY EDWARD 2,000,000 13D 09/25/89 COM
KAPOOR JOHN N 3,250,000 13D 01/24/92 COM
KAPOOR JOHN N TRUST 3,000,000 13D 11/26/90 COM
KAPOOR JOHN N TRUST 4,260,000 13D 12/07/93 COM
KAPOOR JOHN N TRUST 09/20/89 4,348,484 13D 12/05/96 COM
KAPOOR TRUST JOHN N 4,300,369 13D 12/30/97 COM
NORBROOK HOLDINGS BV 0 13D 11/23/90 COM
************************************************
EPS 2/ 7/98 Page 1 of 1
AKORN INC.
Fiscal year ends 12/97
Earnings per share estimates
--Mean $ 0.11
--High $ 0.11
--Low $ 0.11
P/E Ratio 36.36 (Estimated)
Number of analysts 2
Past EPS estimates (Mean)
-- Month ago 0.11
--13 Weeks ago 0.11
--26 Weeks ago 0.10
**************************************
EPS 2/ 7/98 Page 1 of 1
AKORN INC.
Fiscal year ends 12/98
Earnings per share estimates
--Mean $ 0.25
--High $ 0.25
--Low $ 0.25
P/E Ratio 16.00 (Estimated)
Number of analysts 2
Past EPS estimates (Mean)
-- Month ago 0.25
--13 Weeks ago 0.25
--26 Weeks ago 0.24
**********************************
Financial Profile
Data current through 02/13/1998
Akorn Inc
100 Akorn Drive
Abita Springs, LA 70420
Telephone: (504) 893-9300
Fax: (504) 893-1257
Dow Jones Industry Group: Medical Supplies
Business Description: Manufactures, markets and distributes
ophthalmic products, including an extensive line of
therapeutic and diagnostic pharmaceuticals, surgical
instruments, and over-the-counter products.
Primary SIC: 2834
SIC Codes:
Stock Symbol: AKRN
Exchange: NASDAQ
CEO: John N. Kapoor, Ph.D.
Employees: 295
Auditors: Deloitte & Touche LLP
Latest Report: Unqualified
Share Data
Latest Reported Shares Outstanding 16,621,000
Latest Shares Outstanding Date 12/17/1997
Latest Balance Sheet Shares Outstanding 16,621,000
Short Interest Shares 1,427
Short Interest Ratio 0.0 Days
Short Interest Ratio Date 01/08/1998
Net Insider Transactions 0
Net Insider Transactions Date 12/31/1997
Shares Held by Institutions 1,865,000
Number of Institutions Holding 16
% of Shares Held by Institutions 11.2
Institutional Holding Date 01/31/1998
Market Value($ Mil) 69
Market Value as % Revenues 416
Dividend Information
Last Ex-Dividend Date 05/24/1991
Indicated Dividend Rate 0.00
Dividend Yield 0.0%
Dividend Code
Payout Ratio Last Fiscal Year NC
5-Year Average Payout NC
5-Year Dividend Yield 0.0%
Stock Price ($) And Volume
Most Recent Close Price 4.13
Most Recent Close Price Date 02/13/1998
Close Price 4 Weeks Ago 3.81
Close Price 13 Weeks Ago 4.00
Close Price 26 Weeks Ago 2.19
Close Price 52 Weeks Ago 2.00
Price Change Last Month 4.8%
Price Change Last 10 Days 4.8%
Price Change Last 26 Weeks 88.6%
Price Change Last 52 Weeks 106.5%
Price Change YTD 13.8%
Price Change vs Market Last Trading Week 102%
Price Change vs Market Last 4 Weeks 102%
Price Change vs Market Last 13 Weeks 94%
Price Change vs Market Last 26 Weeks 167%
Price Change vs Market Last 52 Weeks 164%
Price Change vs Market YTD 108%
4-Week High Price 4.19
4-Week Low Price 3.56
13-Week High Price 4.31
13-Week Low Price 2.75
26-Week High Price 4.50
26-Week Low Price 2.22
52-Week High Price 4.50
52-Week Low Price 1.91
YTD High Price 4.19
YTD Low Price 2.75
5-Day Moving Avg Price 4.00
10-Day Moving Avg Price 3.97
10-Week Moving Avg Price 3.72
30-Week Moving Avg Price 3.31
200-Day Moving Avg Price 3.00
Beta, Up Market -0.14
Beta, Down Market -0.98
Shares Traded This Week 148,900
Volume as % of Shares Outstanding 0.90%
Avg Daily Volume Last 2 Weeks 31,700
Avg Daily Volume Last 4 Weeks 31,800
Avg Daily Volume Last 13 Weeks 43,400
Avg Daily Volume Last 26 Weeks 61,000
Avg Daily Volume Last 52 Weeks 44,900
Avg Daily Volume YTD 42,900
On-Balance Volume Index Last 4 Weeks 54%
Liquidity Ratio 6,730
P/E Ratio 68.8
5-Year High P/E NC
5-Year Low P/E NC
Selected Balance Sheet Items ($ Mil)
Fiscal Year End 12/31/1996 06/30/1996 06/30/1995 06/30/1994
Cash & Equivalent 1.4 0.9 0.8 1.9
Receivables 4.6 4.9 4.9 4.8
Inventories 8.8 8.9 6.0 4.7
Current Assets 16.9 17.3 14.3 14.2
Gr Fixed Assets 21.2 19.3 17.8 12.2
Accum Depr & Depl 8.4 7.8 6.8 6.0
Net Fixed Assets 12.8 11.5 11.0 6.2
Total Assets 31.1 29.8 26.3 21.2
Accounts Payable 1.1 2.7 1.7 2.5
Short-Term Debt 1.9 2.8 1.3 0.1
Curr Liabilities 8.7 9.6 6.4 6.6
Long-Term Debt 5.3 3.5 3.9 0.8
Total Liabilities 14.8 13.5 11.2 8.9
Preferred Equity 0.0 0.0 0.0 0.0
Common Equity 16.4 16.3 15.0 12.3
Retained Earnings 2.2 2.2 1.5 -0.8
Total Equity 16.4 16.3 15.0 12.3
Liabs & Equity 31.2 29.8 26.2 21.2
Working Capital 8.2 7.7 7.9 7.7
Selected Income Statement Items ($ Mil)
Fiscal Year End 12/31/1996 06/30/1996 06/30/1995 06/30/1994
Revenues/Sales 16.5 33.9 32.9 28.4
Cost of Sales 10.1 21.0 18.7 15.9
Gr Oper Profit 6.4 12.9 14.2 12.5
S,G & A Expenses 5.6 10.2 9.5 8.9
Deprec & Amort 0.7 1.0 0.9 0.7
Interest Expense 0.2 0.4 0.0 0.2
Pretax Income 0.0 1.0 3.5 2.9
Income Taxes 0.0 0.2 1.2 0.2
Minority Interest 0.0 0.0 0.0 0.0
Net Inc Cont Ops 0.0 0.8 2.3 2.7
Net Inc Disc Ops 0.0 0.0 0.0 0.0
Net Inc Tot Ops 0.0 0.8 2.3 2.7
Extra Inc (Loss) 0.0 0.0 0.0 0.0
Net Income 0.0 0.8 2.3 2.7
EPS Cont Ops 0.00 0.05 0.15 0.18
EPS Disc Ops 0.00 0.00 0.00 0.00
EPS Total Ops 0.00 0.05 0.15 0.18
EPS Extra Inc 0.00 0.00 0.00 0.00
EPS fr Net Income 0.00 0.05 0.15 0.18
Domestic Sales NA NA NA NA
Foreign Sales NA NA NA NA
Income Statement YTD (last annual value if no qtrly aval for cur yr)
Revenues/Sales($ Mil) 16.5
Inc fr Total Ops($ Mil) 0.0
EPS fr Total Ops($) 0.00
Dividends per Share($) 0.00
Selected Cash Flow Statement Items ($ Mil)
Fiscal Year End 12/31/1996 06/30/1996 06/30/1995 06/30/1994
Net Income 0.0 0.8 2.3 2.7
Deprec & Amort 0.7 1.0 0.9 0.7
Chg Receivables 0.3 0.4 -0.2 -2.1
Chg Payables 1.4 1.2 -1.4 2.1
Net Cash fr Ops 2.6 0.0 0.8 2.7
Net Cash fr Inv -2.0 -0.9 -4.9 -3.7
Net Cash fr Fin 0.0 1.0 3.0 2.0
Eff Exch Rate Chg 0.0 0.0 0.0 0.0
Net Chg Cash & Eq 0.5 0.1 -1.1 1.0
Cash Begin Period 0.9 0.8 1.9 1.0
Key Financial Ratios
Fiscal Year End 12/31/1996 06/30/1996 06/30/1995 06/30/1994
Book Value P/S 0.99 0.98 1.01 0.83
Price/Book Val(%) 196 344 235 346
Debt/Equity(%) 32 21 26 7
LT Debt % Inv Cap 24.4 17.7 20.6 6.1
LT Debt % Tot Dbt 35.8 25.9 34.8 8.9
Dbt % Tot Assets 47.6 45.3 42.6 42.5
Quick Ratio 0.7 0.6 0.9 1.0
Current Ratio 1.9 1.8 2.2 2.2
Revenue/Assets(%) 50 110 130 130
Price/Revenue(%) 196 165 107 150
Cash % Revenue 8.5 2.7 2.4 6.7
Pre-Tax Mgn(%) 0.0 2.9 10.6 10.2
Post-Tax Mgn(%) 0.0 2.4 7.0 9.5
Eff Tax Rate(%) NC 20.0 34.3 6.9
Asset Turnover 0.5 1.2 1.4 1.6
Receivable Turn 3.5 6.9 6.8 7.6
Inventory Turn 1.1 2.8 3.5 3.6
Ret on Equity(%) 0.0 4.9 15.3 22.0
Ret Invest Cap(%) 0.0 4.0 12.2 20.6
Ret on Assets(%) 0.0 2.7 8.7 12.7
Growth Rates
5-Yr Annual EPS Growth NC
5-Yr Annual Div Growth NC
5-Yr Annual Revenue Growth 2.96%
% Change EPS YTD vs Last YTD NA
$ Change in EPS this YTD vs Last YTD NA
Key Competitors
Alcon
Allergan
Bausch & Lomb
Cephalon
Gensia Sicor
InSite Vision
Novartis
STAAR Surgical
STERIS
Business Background
OVERVIEW
Akorn is nuts about eye-care products. The Lincolnshire, Illinois-
based pharmaceutical company makes diagnostic, surgical, and over-the-
counter (OTC) ophthalmic products. The firm specializes in producing
"brand name generic" eye-care products (mainly prescription eyedrops)
for health care and retail markets. Its pharmaceutical products
include antibiotics, glaucoma medications, and ophthalmic
antihistamines. The company's line of diagnostic products includes
topical stains and eyedrops used to dilate the pupils or numb the eye.
Akorn also makes products for use in surgery, including surgical
knives and post-operative kits, and a line of injectable drugs for
such uses as pain management and arthritis treatment. In addition, the
company provides sterile products contract manufacturing services to
several large pharmaceutical companies. Its products are sold
nationally to hospitals, ophthalmologists, optometrists, wholesalers,
and independent pharmacies. Chairman John Kapoor owns about 24% of the
company.
Akorn was founded in Metairie, Louisiana, in 1972 by Joseph
Yazbeck, who was educated in mathematics and had 20 years of
experience in selling pharmaceuticals. The name was chosen so the
company would appear near the front of alphabetical listings. Akorn
initially distributed eye-care products bought on contract from
various suppliers. In 1985 Yazbeck moved the company to Abita Springs;
three years later it went public. In 1989 he retired and the company
acquired its first manufacturing operation, in Los Angeles, from
Norbrook Holdings, an Irish pharmaceutical company. Two years later,
after two product recalls and an urging from the FDA to modernize,
Akorn voluntarily closed its manufacturing facility. The company
reentered the manufacturing business in 1992 when it purchased Taylor
Pharmacal.
Akorn focused on expanding its product line through strategic
alliances. In 1995 the firm further diversified, starting a unit to
repair surgical instruments and diamond knives. The company acquired
Pasadena research laboratories in 1996, boosting its line of
injectable drugs.
In 1997 Akorn moved its headquarters from Louisiana to Illinois.
Data Source: Media General Financial Services except Hoover's Inc., Austin, TX, for Key Competitors, Business Background |
