AngioDynamics Q1 Loss Beats Estimates, But Sales Down

(RTTNews) - AngioDynamics, Inc. (ANGO), Thursday reported a loss of $12.8 million, or $0.31 per share for the first quarter, compared with a profit of $45.88 million or $1.15 per share in the same quarter a year ago, as the medical technology company had recorded a gain of $47.84 million on sales of assets in the prior-year quarter.

Excluding one-time items, the company posted adjusted loss of $4.4 million, or $0.11 per share, compared with $4.83 million or $0.12 per share loss last year. The consensus estimate was for $0.15 loss per share.

Net sales for the quarter were $67.49 million, down from $78.68 million in the previous year, while adjusted sales increased to $67.5 million from $66.74 million. Analysts' average estimate stood at $67.93 million.

For the full year, AngioDynamics expects net sales to be in the range of $282 to $288 million, and adjusted loss per share of between $0.38 and $0.42.

Analysts expect the company to report a loss of $0.41 per share on sales of $284.37 million for the year.