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.”
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.