AngioDynamics gains in pre-market on better-than-expected Q4 earnings
AngioDynamics Inc. (Nasdaq:ANGO) is up 17% in pre-market trading today after reporting fourth-quarter earnings after Thursday’s close that beat Wall Street estimates. For the fiscal fourth quarter ended May 31, net sales were $46.8 million, up from $40.9 million in the same quarter a year ago. Net income was $0.52 million, or $0.02 per share, compared with $2.9 million, or $0.12 per share, for the period a year earlier. The Queensbury, N.Y.-based company said, not including its settlement to VNUS Medical Technologies Inc. (Nasdaq:VNUS), AngioDynamics reported earnings per share of $0.19. Wall Street had been expecting earnings per share of $0.17 on revenues of $45.6 million.
“As we move into fiscal 2009, our organization has made substantial progress,” said Eamonn Hobbs, president and CEO, in a statement. “In addition to developing our strategy for commercializing our Irreversible Electroporation technology, we’ve begun the intial phases of our roll-out plan for our first IRE technology-based product. At the same time, we completed the acquisition of both the U.S. and U.K. assets of Diomed and eliminated the distractions and costs of ongoing litigation with VNUS. The result of these two developments is that we have substantially strengthened our position in the rapidly growing worldwide market for the treatment of varicose veins.”
In today’s pre-market trading, shares are at $16.52, up $2.38 from Thursday’s close.
For detailed price information and recent news stories about AngioDynamics Inc., click ANGO.
“As we move into fiscal 2009, our organization has made substantial progress,” said Eamonn Hobbs, president and CEO, in a statement. “In addition to developing our strategy for commercializing our Irreversible Electroporation technology, we’ve begun the intial phases of our roll-out plan for our first IRE technology-based product. At the same time, we completed the acquisition of both the U.S. and U.K. assets of Diomed and eliminated the distractions and costs of ongoing litigation with VNUS. The result of these two developments is that we have substantially strengthened our position in the rapidly growing worldwide market for the treatment of varicose veins.”
In today’s pre-market trading, shares are at $16.52, up $2.38 from Thursday’s close.
For detailed price information and recent news stories about AngioDynamics Inc., click ANGO.
About the Author
Reporter Dianna Heitz is based in SmallCapInvestor.com's Washington, DC bureau.
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