AngioDynamics (NASDAQ: ANGO) posted fourth-quarter earnings results on Wednesday before the regular trading hours. Net sales for the period increased 9% to $96.3 million, while adjusted net profit rose to $0.25 per share from $0.20 a year ago.
This came in line with the market expectation on earnings and above the revenue projection of $92.33 million.
Most of the top line growth was driven by the international segment, where revenue grew 27%. In the US, net sales increased a modest 4.4%.
During the quarter, Oncology sales improved 26.5%, Vascular Interventions and Therapies unit sales grew 6.9% and Vascular Access net sales were up 4.9%
CEO Jim Clemmer said, “During the quarter, we strengthened our balance sheet and made significant progress towards our long-term portfolio management goals through the sale of our NAMIC Fluid Management business, setting us on a path towards becoming a leaner, more innovation-focused company.”
Outlook
AngioDynamics expects its fiscal year 2020 net sales to be in the range of $280 to $286 million and adjusted earnings per share in the range of $0.25 to $0.30. Additionally, the company expects gross margin to be in the range of 58% to 59%.
ANGO shares ended its last trading session up 0.69% on Tuesday. The stock has gained 3.5% in the year-to-date period.
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