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AngioDynamics takes a hit after missing Q4 numbers

AngioDynamicsAngioDynamics (NSDQ:ANGO) failed to meet expectations for its fiscal fourth quarter, sending share prices sharply down today despite a swing to black ink.

Latham, N.Y.-based AngioDynamics posted profits of $2.1 million, or 6¢ per share, on sales of $88.3 million for the three months ended May 31. That compares with losses of -$12.9 million during fiscal Q4 2017 and amounts to top-line growth of 1.6%.

Adjusted to exclude one-time items, earnings per share were 20¢, a penny below the consensus forecast on Wall Street, where analysts were looking for sales of $89.3 million.

Full-year profits surged 226.2% to $16.3 million, or 44¢ per share, on a -1.5% sales slip to $344.3 million compared with fiscal 2017. Adjusted EPS hit the consensus of 74¢, but analysts had expected sales of $345.3 million.

The misses sent ANGO shares down -10.5% to $20.20 apiece today ahead of a $23.02 opening; about 10 minutes after the open the stock was off -12.4% at $19.78 per share.

“Our quarterly and full-year results showed further improvement in our operational outcomes, continuing our path to sustainable long-term growth. We are very pleased with our year-over-year gross margin expansion and solid profitability, as well as our consistent free cash flow generation,” president & CEO Jim Clemmer said in prepared remarks. “Our oncology ablation systems, AngioVac thrombus management product, and fluid management family of products are each examples of where we are well positioned to win and grow the value of the company. We will continue to actively focus on pursuing our portfolio optimization strategy, which includes both internal and external growth opportunities. We will look to augment those areas where we currently have a product family foundation with additional opportunities to win, driving sustainable long-term revenue growth.”

AngioDynamics said it expects to report adjusted EPS of 82¢ to 86¢ for fiscal 2019, on sales of $344 million to $349 million.

The post AngioDynamics takes a hit after missing Q4 numbers appeared first on MassDevice.

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