Business
AngioDynamics Reports Fiscal 2020 Second Quarter Financial Results
Fiscal 2020 Second Quarter Highlights Net sales of $70.0 million, flat compared to the prior-year quarter Gross margin increased 140 basis points year over
About this update from Angiodynamics, Inc.
[{"type":"text","content":"\n Fiscal 2020 Second Quarter Highlights\n \n \n \n Net sales of $70.0 million, flat compared to the prior-year quarter\n \n \n Gross margin increased 140 basis points year over year to 59.3%\n \n \n GAAP loss per share of $0.07; adjusted earnings per share of $0.06\n \n \n Announces the acquisition of C3 Wave PICC tip location system\n subsequent to quarter end \n \n \n \n \n\n LATHAM, N.Y.--(BUSINESS WIRE)--\n AngioDynamics, Inc. (NASDAQ: ANGO), a leading provider of innovative,\n minimally invasive medical devices for vascular access, peripheral\n vascular disease, and oncology, today announced financial results for\n the second quarter of fiscal year 2020, which ended November 30, 2019.\n \n \n “Sales growth of 2.5%, ex-Asclera, exhibited continued momentum during\n the quarter, and I am pleased with the resulting gross margin expansion\n and profitability,” commented Jim Clemmer, President and Chief Executive\n Officer of AngioDynamics, Inc. “We are making excellent progress on the\n integration of Eximo Medical and are currently building out a dedicated\n commercial organization to support a product launch in the second half\n of our fiscal year 2020. I’m also excited to announce the acquisition of\n the C3 Wave tip location product, which will fill a technology gap in\n our portfolio and enable broader market adoption of our innovative\n BioFlo PICCs. Looking ahead, strong growth in sales of our AngioVac and\n NanoKnife products during the quarter should position us well to achieve\n our full-year guidance and drive growth across our portfolio.”\n \n \n Second Quarter 2020 Financial Results\n \n \n Net sales for the second quarter of fiscal 2020, which now include the\n fiscal year 2019 acquisitions of BioSentry and RadiaDyne as organic\n revenue, were $70.0 million, flat compared to the prior-year quarter.\n Excluding the impact of Asclera sales, which were discontinued during\n fiscal year 2019, net sales grew 2.5% year over year. Foreign currency\n translation did not have a significant impact on the Company’s sales in\n the quarter.\n \n \n \n Oncology net sales were $16.1 million, an increase of 5.1% from $15.3\n million a year ago, led by higher sales of NanoKnife and the Alatus\n and IsoLoc balloon products.\n \n \n Vascular Interventions and Therapies (“VIT”) net sales were $31.2\n million, an increase of 0.6%, co...