AngioDynamics, Inc. (NASDAQ:ANGO) saw its shares fall on third-quarter results.
The Latham, New York-based Angio, a leading provider of innovative, minimally invasive medical devices for vascular access, peripheral vascular disease, and oncology, today announced net sales of $86.3 million, an increase of 3.0%, compared to $83.9 million a year ago.
Foreign currency translation did not have a significant impact on the Company’s sales in the quarter.
ANGO recorded net income of $0.8 million, or $0.02 per share, in the third quarter of fiscal 2019. This compares to net income of approximately $14.0 million, or $0.37 per share, a year ago.
Said CEO Jim Clemmer, "While we had pockets of softness in our financial performance during the third quarter, our overall performance remains strong, and we are confident that we will achieve our full-year guidance. We saw strong growth contributions during the quarter from AngioVac and Solero, as well as from Fluid Management.
"Additionally, I am very excited that the FDA has approved the IDE for our NanoKnife® DIRECT Clinical Study, which is the next step toward this incredible technology improving the standard of care for patients afflicted with Stage III pancreatic cancer."
ANGO reiterates its previously announced financial guidance, continuing to expect fiscal year 2019 net sales in the range of $354 to $359 million and free cash flow in the range of $26 to $31 million. Additionally, the Company continues to expect adjusted earnings per share in the range of $0.82 to $0.86.
Shares settled 54 cents, or 2.2%, to $24.47
