Business
AngioDynamics Reports Fiscal 2021 Fourth Quarter and Full-Year Financial Results
Fiscal 2021 Fourth Quarter Highlights Net sales of $76.8 million increased 31.7% compared to the prior-year quarter Gross margin of 55.1% increased 330 basis
About this update from Angiodynamics, Inc.
[{"type":"text","content":"\nFiscal 2021 Fourth Quarter Highlights\n\n\nNet sales of $76.8 million increased 31.7% compared to the prior-year quarter \n\n\nGross margin of 55.1% increased 330 basis points year over year \n\n\nGAAP loss per share of $0.51, inclusive of a $14.0 million write-off of OARTrac intangible assets, and adjusted earnings per share of $0.00\n\n\nCash and cash equivalents on May 31, 2021 were $48.2 million \n\n\nReceived 510(k) clearance for AlphaVac Mechanical Thrombectomy System subsequent to quarter end\n\n\nReceived FDA approval for NanoKnife prostate IDE (PRESERVE) subsequent to quarter end\n\n\nFull-Year 2021 Highlights\n\n\nNet sales of $291.0 million increased 10.2% year over year\n\n\nGross margin declined 300 basis points year over year to 53.9% \n\n\nGAAP loss per share of $0.82 and adjusted earnings per share of $0.05 \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 fourth quarter and fiscal year 2021, which ended May 31, 2021.\n\n“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,” commented Jim Clemmer, President and Chief Executive Officer of AngioDynamics, Inc. “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.”\n\nFourth Quarter 2021 Financial Results\n\nNet sales for the fourth quarter of fiscal 2021 were $76.8 million, an increase of 31.7% compared to the prior-year quarter. All year-over-year comparisons have been affecte...