Categories AlphaGraphs, Earnings
AngioDynamics misses Q3 revenue expectation; reports double digit earnings growth
Medical device manufacturer AngioDynamics’ (ANGO) third quarter 2018 revenue fell short of consensus estimate. The company’s revenue dropped 2.1% year-over-year, while the US tax reform lifted the reported earnings and per share figures, which more than tripled for the quarter. The revenue miss was mainly due to the declines in the Venous Insufficiency business and a negative year-over-year comparison related to the Radiofrequency Ablation (RFA) product line that was discontinued in Japan. Profit jumped to $14 million or $0.37 per share from the year ago profit of $2.9 million or $0.08 per share. On an adjusted basis, earnings spiked 31.5% to $0.25 per share.
Geographically, US net sales fell short of expectations, declining 2.8%, hurt by declining sales of Venous, PICCs, and RFA businesses. However, international sales experienced a positive growth due to consistent performance across all the business units.
Outlook
AngioDynamics reaffirmed its financial guidance for fiscal year 2018 and expects net sales in the range of $345 million to $350 million. Adjusted EPS is expected in the range of $0.64 to $0.68, excluding any impact from the 2017 Tax Reform Act. Including the impact of Tax Reform, adjusted EPS is eyed in the range of $0.70 to $0.74.
Most Popular
What to look for when CVS Health (CVS) reports Q3 earnings
Healthcare company CVS Health Corporation (NYSE: CVS) is all set to report earnings next week, with Wall Street expecting a mixed outcome. The company has been facing challenges in certain
eBay (EBAY): A few factors that helped drive growth in Q3 2024
Shares of eBay Inc. (NASDAQ: EBAY) stayed green on Friday. The stock has gained 32% year-to-date. The ecommerce leader delivered revenue and earnings growth for the third quarter of 2024,
CVX Earnings: Chevron reports lower revenue and profit for Q3 2024
Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to