Business
AngioDynamics Reports Fiscal Year 2024 First Quarter Financial Results; Reaffirms Fiscal Year 2024 Guidance
Fiscal Year 2024 First Quarter Highlights Net sales of $78.7 million as reported Includes $0.7 million of Dialysis and BioSentry Biopsy Tract Sealant System
About this update from Angiodynamics, Inc.
[{"type":"text","content":"\n Fiscal Year 2024 First Quarter Highlights\n\n\n\nNet sales of $78.7 million as reported\n\n\nIncludes $0.7 million of Dialysis and BioSentry Biopsy Tract Sealant System sales\n\n\n\nNet sales increased 5.7% on a pro-forma basis when excluding Dialysis and BioSentry, compared to the prior-year quarter \n\n\n\nMed Tech net sales of $25.9 million increased 13.3%\n\n\n\nMed Device net sales of $52.8 million as reported\n\n\nMed Device net sales increased 2.3% on a pro-forma basis \n\n\n\n\n\n\n\n\n\nGross margin of 50.9% \n\n\nDeclined 20 basis points on a pro-forma basis year over year\n\n\n\n\n\n\nCompleted the sale of the Dialysis and BioSentry Biopsy Tract Sealant System businesses to Merit Medical Systems, Inc. for $100.0 million in cash\n\n\n\nGAAP earnings per share of $1.15 \n\n\n\nAs reported adjusted loss per share of $0.12\n\n\n\nCash and cash equivalents at August 31, 2023 were $57.6 million \n\n\n\nCompleted enrollment in the PRESERVE study for the use NanoKnife to treat prostate tissue\n\n\n\n LATHAM, N.Y.--(BUSINESS WIRE)--\nAngioDynamics, Inc. (NASDAQ: ANGO), a leading and transformative medical technology company focused on restoring healthy blood flow in the body’s vascular system, expanding cancer treatment options and improving quality of life for patients, today announced financial results for the first quarter of fiscal year 2024, which ended August 31, 2023.\n\n\n“We started Fiscal Year 2024 with strong performance across both businesses, driven by continued strength from NanoKnife and our International markets,” commented Jim Clemmer, President and Chief Executive Officer of AngioDynamics, Inc. “We remain focused on bringing innovative new products to market, expanding the approved indications for our existing products, and continuing to build a body of compelling clinical evidence in support of these indications and products.”\n\n\nFirst Quarter 2024 Financial Results\n\n\nNet sales for the first quarter of fiscal year 2024 were $78.7 million, including $0.7 million of Dialysis and BioSentry Tract Sealant System sales. On a pro forma basis, excluding sales of Dialysis and BioSentry, net sales increased 5.7% compared to the prior-year quarter. Foreign currency translation did not have a significant impact on the Company's net sales in the quarter.\n\n\nMed Tech net sales were $25.9 million, a 13.3% increas...