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AngioDynamics tops 3Q profit forecasts

LATHAM, N.Y. (AP) _ AngioDynamics Inc. (ANGO) on Thursday reported fiscal third-quarter net income of $2.9 million.

On a per-share basis, the Latham, New York-based company said it had net income of 8 cents. Earnings, adjusted for one-time gains and costs, came to 19 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.

The medical device maker posted revenue of $85.6 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $88.4 million.

AngioDynamics expects full-year earnings in the range of 68 cents to 70 cents per share, with revenue in the range of $352 million to $355 million.

AngioDynamics shares have risen 2.5 percent since the beginning of the year. The stock has increased 41 percent in the last 12 months.

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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

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Keywords: AngioDynamics, Earnings Report