NEW YORK (TheStreet) -- Akorn (AKRX - Get Report) was falling 8.75% to $23.56 on Monday after the generic pharmaceutical company issued first-quarter guidance that came up short of analysts' expectations.
The company said it expects earnings per share of 76 cents to 79 cents in the first quarter, below the Capital IQ consensus estimate of 86 cents a share. The company said it expects full-year revenue of $540 million to $560 million, which surpasses the consensus estimate of $500.99 million.
For the fourth quarter of 2013, Akorn reported earnings per share of 14 cents, which was exactly in line with the consensus estimate. Revenue rose 18.9% year over year to $85 million, which beat analysts' estimates of $83.4 million.