The company reported Q4 adjusted earnings of 7¢ per share for the 3 months ended May 31, right on target with analysts’ consensus estimates. Sales jumped more than 50% and losses were less than 13% of losses reported during the same time last year.
On a non-adjusted basis, AngioDynamics posted losses of $869,000, or 2¢ per share diluted share, on sales of $90 million during the 4th quarter. That compared with losses greater than $7 million, or 27¢ per share, on sales of $57.7 million during the same period in 2012.
"The 4th quarter was highlighted by encouraging signs of progress," president & CEO Joseph DeVivio said in prepared remarks. "While the Vascular Access franchise continues to face challenges despite the strong performance of our BioFlo technology, the Peripheral Vascular, Oncology/Surgery and International franchises all experienced healthy improvements over the fiscal 2013 third quarter."
For the full year of 2013, AngioDynamics reported adjusted earnings of 35¢ per share, a penny over analysts’ projections. On a non-adjusted basis, the company reported $614,000 in losses, an 88% reduction in losses compared with 2012. Sales jumped 54.2% to $342 million.