AngioDynamics Inc. (NASDAQ: ANGO) on Wednesday reported a net loss, on an adjusted basis, for the first quarter of 2024 when its revenue declined. The medical device maker also reaffirmed its full-year guidance.
Net loss, excluding special items, was $0.12 per share in the August quarter, compared to a loss of $0.06 per share in the same period of 2023. On an unadjusted basis, it was a profit of $45.9 million or $1.15 per share in Q1, compared to a loss of $13.0 million or $0.33 per share in the prior-year quarter.
First-quarter revenues decreased 4% year-over-year to $78.7 million. The company continues to expect fiscal 2024 revenues to be in the range of $328 million to $333 million.
Commenting on the results, AngioDynamics’ CEO Jim Clemmer said, “We remain focused on bringing innovative new products to market, expanding the approved indications for our existing products, and continuing to build a body of compelling clinical evidence in support of these indications and products.”
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