AngioDynamics Inc. (NSDQ:ANGO) announced the resignation, effective immediately, of president & CEO Jan Keltjens after the company reported fourth quarter sales that missed the mark.
Keltjens will also no longer serve on the board of directors for the company.
The Latham, N.Y.-based medical device company reported $56.4 million in fourth quarter net sales, compared to $60.3 million during the same quarter last year.
Net sales for the full fiscal year are expected to be flat compared with 2010 at $216 million.
This is more bad news for Angiodynamics, which saw its shares fall more than 7 percent in after-hours trading after the announcement.
The company has also been under a spotlight for allegedly over-zealous marketing of its NanoKnife system. The FDA accused the Latham, N.Y.-based company of making statements on its website promoting the use of the device beyond its approved indications early this year.
Despite the federal attention, NanoKnife sales jumped to $2.7 million this quarter, as compared to $1.9 million in the third quarter, according to the release.
Company CTO Scott Solano will fill in as CEO on an interim basis.
When asked about the reasons behind Keltjens’ resignation, company officials said they had no comment beyond the content of the press release.