AngioDynamics rises on Street-beating Q4 revenues
Tuesday, July 13, 2021
AngioDynamics (NSDQ:ANGO) shares ticked up this morning on fourth-quarter results that beat the consensus revenue forecast.
The Latham, N.Y.-based peripheral artery disease (PAD) treatment developer posted losses of -$19.5 million, or -51¢ per share, on sales of $76.8 million for the three months ended May 31, 2021, for an 87.6% bottom-line gain on sales growth of 31.7%.
Adjusted to exclude one-time items, earnings per share were even at 0¢, equaling the projections made on Wall Street, where analysts were looking for sales of $72.7 million.
“The AngioDynamics team demonstrated excellent performance, resilience, and strong execution in what was a uniquely challenging year. We saw the pressure from COVID-19 gradually alleviate over the course of the year, and our business is now trending close to normalized run rates. During fiscal 2021, we took significant steps forward in our transformation into a growth-oriented, technology-driven company, building on the foundation we put in place over the past several years,” AngioDynamics president & CEO Jim Clemmer said in a news release. “Our investments in our key technology platforms are driving our growth, as evidenced by a strong first-year contribution from Auryon and continued strength from AngioVac.
“I am excited about the future of AngioDynamics as we continue to develop differentiated products like AlphaVac, which we anticipate launching later this year, to serve larger and faster growing markets, pursue regulatory milestones and expand our patient base.”
AngioDynamics said it now expects to log adjusted EPS of 0¢ to 5¢ for fiscal 2022, setting its sales guidance for between $305 million and $310 million.
ANGO shares ticked up 2.5% at $29.11 per share in early-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was even at the early stage in the day.