AngioDynamics Inc. (NASDAQ:ANGO) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
AngioDynamics Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 36.36% to $0.07 in the quarter versus EPS of $0.11 in the year-earlier quarter.
Revenue: Rose 56.01% to $90 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: AngioDynamics Inc. reported adjusted EPS income of $0.07 per share. By that measure, the company beat the mean analyst estimate of $0.06. It beat the average revenue estimate of $86.43 million.
Quoting Management: “The fourth quarter was highlighted by encouraging signs of progress, and while the Vascular Access franchise continues to face challenges despite the strong performance of our BioFlo technology, the Peripheral Vascular, Oncology/Surgery and International franchises all experienced healthy improvements over the fiscal 2013 third quarter,” said Joseph M. DeVivo, President and Chief Executive Officer. “We saw excellent early data on our BioFlo PICCs, which now represent 20% of AngioDynamics’ worldwide PICC revenue; exceeded our AngioVac system forecast with $1 million in sales in the fourth quarter alone; and received FDA approval for our NanoKnife system Prostate IDE. Our Oncology/Surgery franchise was further bolstered by a 25% increase in worldwide thermal ablation revenue compared to the fiscal 2013 third quarter. Coupled with returned stability in our sales forces, we believe these key drivers will return AngioDynamics to growth in FY 2014.”
Key Stats (on next page)…