Business
AngioDynamics Reports Fiscal 2021 Second Quarter Financial Results
Fiscal 2021 Second Quarter Highlights Net sales of $72.8 million increased 4.0% compared to the prior-year quarter Gross margin declined 410 basis points
About this update from Angiodynamics, Inc.
[{"type":"text","content":"\nFiscal 2021 Second Quarter Highlights\n\n\nNet sales of $72.8 million increased 4.0% compared to the prior-year quarter \n\n\nGross margin declined 410 basis points year over year to 55.2%\n\n\nGAAP loss per share of $0.11 and adjusted earnings per share of $0.01\n\n\nCash and cash equivalents on November 30, 2020 were $58.0 million, compared to $47.9 million on August 31, 2020 \n\n\nThe Company reaffirms its guidance of 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\nToday, the Company announced that it plans to launch its new multi-purpose mechanical aspiration thrombectomy device in calendar year 2021.\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 second quarter of fiscal year 2021, which ended November 30, 2020.\n\n“I am very pleased with our performance in the second quarter, as sales execution and continued expense management drove strong revenue and positive earnings,” commented Jim Clemmer, President and Chief Executive Officer of AngioDynamics, Inc. “AngioVac and Auryon performed well during the quarter, as we continue to focus on growing our key technology platforms while managing expenses throughout the business. In the second half of the year, we expect ongoing COVID-related headwinds as well as typical third-quarter seasonality, which is contemplated in our full-year guidance. We are excited about the planned launch of our multi-purpose mechanical aspiration thrombectomy device in calendar 2021, as this new member of the AngioVac platform family will position us to serve the much larger addressable market of moderately complex thrombectomy cases, while AngioVac and Uni-Fuse continue to address the complex and simple ends of the spectrum, respectively.”\n\nSecond Quarter 2021 Financial Results\n\nNet sales for the second quarter of fiscal 2021 were $72.8 million, an increase of 4.0% compared to the prior-year quarter. Net sales in the second 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 Com...