AngioDynamics (NASDAQ: ANGO) reported Q2 EPS of $0.22, $0.05 better than the analyst estimate of $0.17. Revenue for the quarter came in at $91.5 million versus the consensus estimate of $89.24 million.
- Net sales of $91.5 million, an increase of 5.5% year over year
- Gross margin expanded 440 basis points year over year to 53.7%
- GAAP EPS of $0.06 per share; adjusted EPS of $0.22 per share
- Cash provided by operations of $13.0 million; capital expenditures of $0.7 million
- Announced the acquisition of RadiaDyne and its proprietary OARtrac® radiation dose monitoring platform to build the Company’s continuum of care within the oncology space
“We are very pleased with our second quarter financial results, which are marked by growth across all of our business segments, expanding gross margins, and improved profitability. Our quarterly performance was positively impacted by our recent acquisitions, validating our portfolio optimization strategy and enhancing our value proposition within oncology. In addition, we continue to make progress toward obtaining a pancreatic cancer indication for NanoKnife and recently received notification from the FDA that NanoKnife will be considered a Category B IDE once we receive approval to begin our DIRECTtm NanoKnife study for Stage III pancreatic cancer,” commented Jim Clemmer, President and Chief Executive Officer of AngioDynamics, Inc. “We are encouraged by these accomplishments and are well positioned to achieve our financial targets for the full year.”
GUIDANCE:
AngioDynamics sees FY2019 EPS of $0.82-$0.86, versus the consensus of $0.84. AngioDynamics sees FY2019 revenue of $354-359 million, versus the consensus of $356.09 million.
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