(RTTNews) - (Adds Outlook))
AngioDynamics, Inc. (ANGO) has revised its full-year adjusted loss outlook and now expects a narrower loss, amidst its strong second quarter performance. It also reiterated sales guidance for the year.
Jim Clemmer, CEO of AngioDynamics, said: "We are very excited about our strong performance during the second quarter, and in particular the continued strength of our Med Tech segment, which grew 25% over the prior year. We also hit a number of key milestones for our NanoKnife System, with the receipt of CPT Category I Codes and FDA 510(k) clearance for prostate tissue ablation."
For the 12-month period, the company now expects adjusted loss of $0.34 to $0.38, compared with the previous guidance for a loss of $0.38 to $0.42 per share. AngioDynamics has also reaffirmed its sales guidance of $282 to $288 million.
On average, analysts expect the firm to post a loss of $0.4 per share, on revenue of $283.86 million, for the year. Analysts' estimates typically exclude special items.
Q2 Results:
AngioDynamics Inc. (ANGO) revealed Loss for second quarter that decreased from last year but beat the Street estimates.
The company's earnings came in at -$10.738 million, or -$0.26 per share. This compares with -$29.048 million, or -$0.72 per share, in last year's second quarter.
Excluding items, AngioDynamics Inc. reported adjusted earnings of -$1.742 million or -$0.04 per share for the period.
Analysts on average had expected the company to earn -$0.11 per share.
The company's revenue for the quarter fell 7.9% to $72.845 million from $79.073 million last year.
AngioDynamics Inc. earnings at a glance (GAAP) :
-Earnings (Q2): -$10.738 Mln. vs. -$29.048 Mln. last year. -EPS (Q2): -$0.26 vs. -$0.72 last year. -Revenue (Q2): $72.845 Mln vs. $79.073 Mln last year.
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