Akorn, Inc. (AKRX)
Q2 2012 Earnings Call
August 7, 2012, 10:00 a.m. ET
Raj Rai – CEO
Timothy Dick – CFO
Bruce Kutinsky – COO
Dinesh Dua – CEO, Managing Director Akorn India Pvt. Ltd.
Jeff Whitnell – CFO, SVP, Treasurer and Secretary
Steven Crowley – Craig Hallum Capital Group
David Amsellem – Piper Jaffray
Elliot Wilbur – Needham and Company
Michael Higgins – Benson Paxton Securities
Paul Nouri – Noble Equity Fund
David Steinberg – Deutsche Bank
Good morning and thank you for joining Akorn Incorporated 2012 second quarter conference call. If you have not yet had a chance to read the earnings release, you may access it through the investor relations section at Akorn’s website. Raj Rai, Chief Executive Officer, Tim Dick, Chief Financial Officer and Bruce Kutinsky, the newly-appointed Chief Operating Officer, will host this morning’s call. The call is expected to last 30 minutes and may be accessed through our website at Akorn.com. A replay of the conference call will be available shortly after the filing of the transcript of this call with the U.S. Securities and Exchange Commission, under rule 14-A through 12 of the Securities and Exchange Act of 1934, as amended. Interested parties can access the replay by dialing 888-203-1112 in the United States, or 719-457-0820 internationally, and entering the access code 4125361.
Before we get started, I’d like to remind everyone that any statements made on the conference call today or on our press release that express a belief, expectation, anticipation or intent, as well as those that are historical fact, are considered forward-looking statements and are protected under the Safe Harbor of the Private Securities Litigation Reform Act. These forward-looking statements are based on information available to Akorn today, and we assume no obligation to update these statements as circumstances change. These forward-looking statements may involve a number of risks and uncertainties, which may cause the company’s results to differ materially from such statements. Forward-looking statements are qualified by the inherent risks and uncertainties surrounding future expectations, generally, and may materially differ from the actual future experience. Risks and uncertainties could affect forward-looking statement, including the failure to gain new product approvals and lines of new products. Such risks are described from time to time in Akorn’s reports filed with the SEC, including Akorn’s annual report on form 10-K for the year ended December 31
, 2011, and the subsequent quarterly reports on form 10-Q. Also, the company urges caution in considering any trends or guidance that may be discussed on the conference call. In addition, as required by regulation, reconciliation of non-GAAP financial measures mentioned on our call today, to the most comparable GAAP financial measures, can be found in our press release. Thank you, and now I’d like to turn the call over to Raj Rai.