AngioDynamics Q3 Results Beat Expectations; Raises Annual Outlook Above View; Stock Up In Pre-market

(RTTNews) - AngioDynamics, Inc. (ANGO) Wednesday reported net loss of $4.41 million or $0.11 per share for the third quarter, significantly lower than $187.74 million or $4.67 per share loss in the same quarter a year ago, primarily due to goodwill impairment charges of $159.48 million in the prior-year quarter.

Third-quarter results beat analysts' view. The medical technology company also raised its full-year outlook above the Street expectations. Its shares were more than 10 percent up in pre-market.

Excluding one-time items, loss narrowed to $3.1 million or $0.08 per share, from $6.5 million or $0.16 loss per share a year ago.

Sales for the quarter declined to $72 million from $75.18 million last year. Proforma sales grew 9.2 percent to $72.01 million from $65.97 million.

On average, 3 analysts expected the company to report loss of $0.13 per share on sales of $70.3 million for the quarter. Analysts' estimates typically exclude special items.

For fiscal 2025, the company now expects sales to be in the range of $285 - $288 million, up from $282 - $288 million guided earlier.

Adjusted loss per share is expected between $0.31 and $0.34, an improvement from prior guidance of a loss of $0.34 to $0.38.

The consensus estimate for loss per share stands at $0.37 on sales of $284.91 million.

AngioDynamics stock had closed at $9.66, up 2.88 percent on Tuesday. It has traded in the range of $5.47 - $13.50 in the last 1 year.