AngioDynamics, Inc. (NASDAQ:ANGO) stocks trundled lower Tuesday on reports of its latest quarterly release.
The company, based in Latham, New York, is a leading provider of innovative, minimally invasive medical devices for vascular access, peripheral vascular disease, and oncology.
Net sales for the second quarter of fiscal 2020, which now include the fiscal year 2019 acquisitions of BioSentry and RadiaDyne as organic revenue, were $70.0 million, flat compared to the prior-year quarter.
Excluding the impact of Asclera sales, which were discontinued during fiscal year 2019, net sales grew 2.5% year over year.
Gross margin for the second quarter of fiscal 2020 was 59.3%, an increase of 140 basis points compared to the second quarter of fiscal 2019, driven primarily by productivity and supply chain improvements as well as positive product mix.
The Company recorded a net loss from continuing operations of $2.7 million, or a loss of $0.07 per share, in the second quarter of fiscal 2020.
This compares to a net loss from continuing operations of approximately $3.6 million, or a loss of $0.10 per share, a year ago.
Excluding the items shown in the non-GAAP reconciliation table below, adjusted net income for the second quarter of fiscal 2020 was $2.2 million, or $0.06 per share, compared to adjusted net income of $2.9 million, or $0.07 per share, in the second quarter of fiscal 2019.
In the second quarter of fiscal 2020, the Company used $5.9 million in operating cash and had capital expenditures of $2.6 million. As of November 30, the Company had $41.2 million in cash and cash equivalents and no debt outstanding
ANGO shares slouched $1.28, or 7.6%, to $15.62
