AngioDynamics Inc. (NASDAQ: ANGO) has reported a wider net loss for the third quarter of 2024 when the medical device maker’s revenue declined. The company also issued guidance for fiscal 2024.
Net loss, excluding special items, was $0.16 per share in the February quarter, compared to a loss of $0.03 per share in the corresponding period of 2023. On an unadjusted basis, net loss was $190.4 million or $4.73 per share in Q3, vs. a loss of $9.5 million or $0.24 per share in the prior-year quarter.
Third-quarter revenues decreased 7% year-over-year to $75.2 million. The company expects fiscal 2024 revenues to be in the range of $270 million to $275 million.
Commenting on the results, AngioDynamics’ CEO Jim Clemmer said, “Subsequent to the end of our fiscal third quarter, we reached a settlement agreement with BD/Bard that provides us with clarity and certainty going forward. This allows us to avoid continued litigation and keep the team focused on further developing our key growth platforms.”
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