Business
AngioDynamics Reports Fiscal 2022 First Quarter Financial Results; Updates Guidance
Fiscal 2022 First Quarter Highlights Net sales of $77.0 million increased 9.6% compared to the prior-year quarter Gross margin of 52.1% increased 120 basis
About this update from Angiodynamics, Inc.
[{"type":"text","content":"\nFiscal 2022 First Quarter Highlights\n\n\nNet sales of $77.0 million increased 9.6% compared to the prior-year quarter\n\n\nGross margin of 52.1% increased 120 basis points year over year\n\n\nGAAP loss per share of $0.18, and adjusted loss per share of $0.02\n\n\nThe Company commenced a Limited Market Release of its AlphaVac Mechanical Thrombectomy device in September\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 2022, which ended August 31, 2021.\n\n“We had a solid first quarter, and our team continues to deliver strong revenue performance and invest in our growth drivers while advancing our ongoing transformation,” commented Jim Clemmer, President and Chief Executive Officer of AngioDynamics. “We remain committed to investing in our Med Tech platforms to drive sustainable growth while managing through COVID-related headwinds to both our revenue and gross margin. Auryon and NanoKnife accelerated their strong trajectories while continuing to gain support from clinicians, and we commenced the limited market release of our AlphaVac mechanical thrombectomy device. I am excited about the future of AngioDynamics, as our team continues to execute against the strategic plan that we laid out at our Investor & Technology Day.”\n\nFirst Quarter 2022 Financial Results\n\nNet sales for the first quarter of fiscal 2022 were $77.0 million, an increase of 9.6% compared to the prior-year quarter.\n\nForeign currency translation did not have a significant impact on the Company's sales in the quarter.\n\nMed Tech net sales were $17.6 million, a 68.0% increase from $10.5 million in the year-ago period, while Med Device net sales were $59.4 million, roughly flat compared to $59.7 million in the year ago period, which included the previously disclosed non-recurring $5.2 million order from the National Health Service (NHS) in the UK. Med Tech includes the Auryon platform, mechanical thrombectomy and the NanoKnife irreversible electroporation platform.\n\n\nEndovascular Therapies (formerly Vascular Interventions and Therapies) net sales were $38.1 million, an increase of 27.5%, compared to $29.9 million a year ago. Grow...