Business
AngioDynamics Reports Fiscal 2021 First Quarter Financial Results
Fiscal 2021 First Quarter Highlights Net sales of $70.2 million increased 6.3% compared to the prior-year quarter, inclusive of the previously disclosed $5.2
About this update from Angiodynamics, Inc.
[{"type":"text","content":"\nFiscal 2021 First Quarter Highlights\n\n\nNet sales of $70.2 million increased 6.3% compared to the prior-year quarter, inclusive of the previously disclosed $5.2 million order from the National Health Service (NHS) in the UK\n\n\nGross margin declined 700 basis points year over year to 50.9%\n\n\nGAAP loss per share of $0.11 and adjusted earnings per share of $0.02\n\n\nCash and cash equivalents on August 31, 2020 were $47.9 million, compared to $54.4 million on May 31, 2020 \n\n\nThe Company expects fiscal year 2021 net sales between $278 and $284 million and fiscal year 2021 adjusted earnings per share between $0.00 and $0.05 \n\n\nSubsequent to quarter end, the Company announced the full commercial launch of its Auryon Atherectomy System\n\n\n LATHAM, N.Y.--(BUSINESS WIRE)--\nAngioDynamics, 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 first quarter of fiscal year 2021, which ended August 31, 2020.\n\n“We had a strong first quarter, as our customers continued to show signs of recovery from the disruption of COVID-19,” commented Jim Clemmer, President and Chief Executive Officer of AngioDynamics, Inc. “While customer demand has not yet returned to pre-COVID levels, the team is clearly executing in this challenging environment. Our key technology platforms performed well during the quarter, including strong sales growth of our AngioVac platform and more than $1 million in sales of our Auryon platform. We’re still seeing the impact of COVID, particularly in our Oncology business, but, despite the unique challenges presented by this environment, we remain confident in our ability to efficiently manage the business while growing our key technology platforms.”\n\nFirst Quarter 2021 Financial Results\n\nNet sales for the first quarter of fiscal 2021 were $70.2 million, an increase of 6.3% compared to the prior-year quarter. Net sales in the first quarter continued to be impacted by the disruption to procedure volumes resulting from the COVID-19 global pandemic. Foreign currency translation did not have a significant impact on the Company’s sales in the quarter.\n\n\nOncology net sales were $12.3 million, a decrease of 12.3% from $14.0 million a year ago, with growth in microwave abl...