Medical device company AngioDynamics Inc. (NASDAQ: ANGO) on Wednesday reported an increase in adjusted profit for the fourth quarter of 2023, aided by a 5% growth in revenues. The company also provided guidance for fiscal 2024.
Earnings, excluding special items, edged up to $0.02 per share in the May quarter from $0.01 per share in the same period of 2022. On an unadjusted basis, it was a net loss of $21.5 million or $0.54 per share, compared to a loss of $6.27 million or $0.16 per share in the prior-year quarter.
Fourth-quarter revenues increased 5% year-over-year to $91.1 million. The company expects fiscal 2024 revenues to be in the range of $328 million to $333 million.
Commenting on the results, AngioDynamics’ CEO Jim Clemmer said, “Looking ahead, we will continue to seek opportunities to further focus the portfolio in order to drive growth and margin expansion.”