AngioDynamics Inc. (NASDAQ: ANGO) on Friday reported a wider loss for the first quarter of 2023, despite a modest increase in revenues. The company also reaffirmed its full-year sales forecast.
The medical device maker reported an adjusted net loss of $0.06 per share for the first three months of fiscal 2023, compared to a loss of $0.02 per share in the year-ago period. On an unadjusted basis, it was a net loss of $13.0 million or $0.33 per share, which marked a deterioration from the $6.97-million loss reported a year earlier.
First-quarter revenues increased 6% year-over-year to $81.5 million. The management reaffirmed its fiscal year 2023 guidance and continues to expect net sales in the range of $342 to $348 million.
Check this space to read management/analysts’ comments on AngioDynamics’ Q1 2023 earnings
“The challenging and uncertain macro environment continued during our first fiscal quarter of 2023, with persistent inflation, as well as hospital staffing and procedural pressures. Our commitment to executing our strategic plan based on our key growth drivers: Auryon, AngioVac, AlphaVac, and NanoKnife, enabled us to build on the momentum we generated in fiscal 2022 to deliver solid results even in the face of this challenging environment,” said AngioDynamics’ CEO Jim Clemmer.