Categories Earnings, Health Care

AngioDynamics misses Q3 earnings

AngioDynamics (NASDAQ: ANGO) posted third-quarter earnings on Tuesday before the regular trading hours. Net sales for the period increased 3% to $86.3 million, while adjusted net profit declined to $0.19 per share from $0.23 a year ago.

The market expected earnings of $0.22 per share on revenue of $88.65 million. Both the top line and bottom line missed the consensus.

An infographic on AngioDynamics' third quarter 2019 earnings results

US net sales in the quarter rose 3.9% to $68.3 million, while international sales edged down 0.3% to $18 million.

CEO CEO Jim Clemmer said, “While we had pockets of softness in our financial performance during the third quarter, our overall performance remains strong, and we are confident that we will achieve our full-year guidance. We saw strong growth contributions during the quarter from AngioVac and Solero, as well as from Fluid Management.”

The Latham, New York-based medical devices firm reiterated its FY 2019 guidance, continuing to expect net sales in the range of $354 to $359 million. Adjusted EPS is projected to be in the range of $0.82 to $0.86.

READ: LYFT AND SIX OTHER COMPANIES WENT PUBLIC IN MARCH. FULL LIST

ANGO ended its last trading session 9.4% higher on Monday. The stock has gained 46% in the trailing 52 weeks.

Last year, AngioDynamics announced that it would acquire privately held medical diagnostic and device company RadiaDyne. The latter designs and develops patient dose monitoring technology to improve cancer treatment outcomes.

This deal added to AngioDynamics’ portfolio RadiaDyne’s early-stage, proprietary real-time radiation dose monitoring platform, and other market-leading oncology solutions.

 

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

Earnings calendar for the week of March 8

On the heels of lawmakers moving closer to passing the stimulus bill, inflations concerns gripped the market after Federal Reserve chief Jerome Powell at a meeting said the reopening would

Why Costco’s (COST) growth prospects might depend on beating costs, digital lag

Though the retail boom triggered by the pandemic was estimated to be short-lived initially, the shopping spree continued as customers stocked up on essential items, concerned about the persistent market

Gap (GPS) hopes to see a favorable recovery by the second half of 2021

Shares of Gap Inc. (NYSE: GPS) were up 5.8% in afternoon hours on Friday. The stock has gained 103% over the past 12 months. Gap reported mixed results for the

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top