Why Are AngioDynamics Shares Trading Lower Today
AngioDynamics Inc (NASDAQ: ANGO) has reported a Q4 FY23 adjusted EPS of $0.02, in line with the consensus EPS higher than $0.01 a year ago.
Q4 sales increased 4.7% Y/Y to $91.07 million, beating the analyst consensus of $90.3 million.
The company reported a Q4 loss of $21.46 million, much wider than 6.27 million reported a year ago.
Med Tech net sales were $26.5 million, up 17.2% Y/Y, driven by Auryon sales during the quarter of $11.8 million, which increased 22.0%, NanoKnife disposable sales of $4.6 million, representing an increase of 28.0% compared to the fourth quarter of fiscal 2022, and AlphaVac sales of $1.8 million, an increase of 86.9% over the prior year.
Also Read: AngioDynamics Divests Dialysis Portfolio And Biopsy Product Line To Merit Medical Systems For $100M.
Med Device net sales were $64.6 million, an increase of 0.3% compared to $64.4 million in the prior-year period.
Gross margin was 50.9%, a decrease of 250 basis points compared to the fourth quarter of fiscal 2022, but up sequentially from 50.2% in the third quarter.
Gross margin continued to be impacted by inflationary pressures, including increased costs for labor and raw materials.
Adjusted EBITDA was $7.9 million, compared to $6.2 million a year ago.
Guidance: AngioDynamics expects its fiscal year 2024 net sales to be $328 million - $333 million and adjusted EPS loss of $(0.28) - $(0.34) versus the consensus estimate of $323 million and $(0.08), respectively.
Price Action: ANGO shares are down 2.52% at $9.70 during the premarket session on the last check Wednesday.
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