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AngioDynamics beats 2Q profit forecasts

LATHAM, N.Y. (AP) _ AngioDynamics Inc. (ANGO) on Friday reported fiscal second-quarter net income of $13.7 million, after reporting a loss in the same period a year earlier.

The Latham, New York-based company said it had net income of 37 cents per share. Earnings, adjusted for one-time gains and costs, came to 19 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.

The medical device maker posted revenue of $89 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $91.4 million.

AngioDynamics expects full-year earnings in the range of 65 cents to 67 cents per share, with revenue in the range of $355 million to $360 million.

AngioDynamics shares have dropped roughly 1 percent since the beginning of the year. The stock has climbed 42 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ANGO at https://www.zacks.com/ap/ANGO


Keywords: AngioDynamics, Earnings Report