AngioDynamics (NASDAQ: ANGO) posted fourth-quarter earnings results on Wednesday before the regular trading hours. Net sales for the period increased 9% to $96.3 million, while adjusted net profit rose to $0.25 per share from $0.20 a year ago.
This came in line with the market expectation on earnings and above the revenue projection of $92.33 million.
Most of the top line growth was driven by the international segment, where revenue grew 27%. In the US, net sales increased a modest 4.4%.
During the quarter, Oncology sales improved 26.5%, Vascular Interventions and Therapies unit sales grew 6.9% and Vascular Access net sales were up 4.9%
CEO Jim Clemmer said, “During the quarter, we strengthened our balance sheet and made significant progress towards our long-term portfolio management goals through the sale of our NAMIC Fluid Management business, setting us on a path towards becoming a leaner, more innovation-focused company.”
AngioDynamics expects its fiscal year 2020 net sales to be in the range of $280 to $286 million and adjusted earnings per share in the range of $0.25 to $0.30. Additionally, the company expects gross margin to be in the range of 58% to 59%.
ANGO shares ended its last trading session up 0.69% on Tuesday. The stock has gained 3.5% in the year-to-date period.
Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a
PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the
With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,