Broker Center sponsored links

UPDATE 1-AngioDynamics Q4 earnings beat Wall Street

Thu Jul 24, 2008 5:22pm EDT
 
Email | Print | | Reprints | Single Page
[-] Text [+]

(Recasts; adds details, stock movement)

July 24 (Reuters) - Medical-device supplier AngioDynamics Inc (ANGO.O: Quote, Profile, Research, Stock Buzz) posted a better-than-expected quarterly profit, helped by strong sales of its interventional products, and forecast financial-year 2009 revenue above market expectations.

Net income for the fourth quarter ended May 31 was $519,000, or 2 cents a share, compared with $2.9 million, or 12 cents per share, a year earlier. Excluding a settlement payment made to VNUS Medical Technologies Inc (VNUS.O: Quote, Profile, Research, Stock Buzz), AngioDynamics earned 19 cents a share.

Net sales rose 14 percent to $46.8 million.

Analysts were expecting earnings of 17 cents a share, before items, on revenue of $45.8 million, according to Reuters Estimates.

For the 2009 financial year, AngioDynamics expects net sales of $205 million to $210 million, compared with analysts' average expectation of $200.8 million.

The Queensbury, New York-based company said it expects earnings of 55 cents a share for the year ending . The outlook includes a reduction of 13 cents per share due to the marketing costs of a new technology.

Analysts on average expect earnings of 64 cents a share for the year.

Shares of the company closed down 25 cents at $14.14 Thursday on Nasdaq. (Reporting by Esha Dey in Bangalore; Editing by Pratish Narayanan)

 

Featured Broker sponsored link

Editor's Choice

  • Pictures
  • Video
  • Articles
Photo

A selection of our best photos from the past 24 hours.  View Slideshow 

Most Popular on Reuters

  • Articles
  • Video
  • Recommended