Business
AngioDynamics Reports Fiscal 2019 Third Quarter Financial Results
Fiscal 2019 Third Quarter HighlightsNet sales of $86.3 million, an increase of 3.0% year over yearGross margin declined 10 basis points year over year to
About this update from Angiodynamics, Inc.
[{"type":"text","content":"Fiscal 2019 Third Quarter HighlightsNet sales of $86.3 million, an increase of 3.0% year over yearGross margin declined 10 basis points year over year to 54.1%GAAP EPS of $0.02 per share; adjusted EPS of $0.19 per shareCash provided by operations of $8.3 million; capital expenditures of $0.9 millionReceived unconditional IDE approval from the FDA to initiate NanoKnife® DIRECT Clinical StudyWon patent infringement dispute with BardLATHAM, N.Y.--(BUSINESS WIRE)-- AngioDynamics, Inc. (NASDAQ:ANGO), a leading provider of innovative, minimally invasive medical devices for vascular access, peripheral vascular disease, and oncology, today announced financial results for the third quarter of fiscal year 2019, which ended February 28, 2019.\"While we had pockets of softness in our financial performance during the third quarter, our overall performance remains strong, and we are confident that we will achieve our full-year guidance. We saw strong growth contributions during the quarter from AngioVac and Solero, as well as from Fluid Management,\" commented Jim Clemmer, President and Chief Executive Officer of AngioDynamics, Inc. \"Additionally, I am very excited that the FDA has approved the IDE for our NanoKnife® DIRECT Clinical Study, which is the next step toward this incredible technology improving the standard of care for patients afflicted with Stage III pancreatic cancer. The IDE approval also represents a milestone for AngioDynamics as we transform into an evidence-based Company focused on therapies and outcomes facilitated by our unique technologies.\"Third Quarter 2019 Financial ResultsNet sales for the third quarter of fiscal 2019 were $86.3 million, an increase of 3.0%, compared to $83.9 million a year ago. Foreign currency translation did not have a significant impact on the Company's sales in the quarter. Oncology net sales were $13.9 million, an increase of 15.1% from $12.1 million a year ago, as strong sales of Solero, as well as the recent BioSentry and RadiaDyne acquisitions, more than offset weaker than anticipated NanoKnife capital sales during the quarter. Vascular Interventions and Therapies net sales in the third quarter of fiscal 2019 were $50.1 million, an increase of 3.3%, compared to $48.5 million a year ago, as strong growth in AngioVac was partially offset by a decelerating decline in the Venous Insufficiency ...