Key Developments For AngioDynamics, Inc.
AngioDynamics, Inc. (ANGO.O) (Nasdaq)
AngioDynamics, Inc. Raises Low End Of Prior FY 2010 Revenue Outlook To A Range Above Analysts' Estimates; Raises Low End Of Prior FY 2010 EPS Outlook; Reaffirms FY 2010 EBIT And EBITDA Outlook
AngioDynamics, Inc. revised its outlook for fiscal 2010 for net sales in the range of $211 to $215 million, an increase of 8%-10% over fiscal 2009 net sales (an increase from previous guidance of $209 to $215 million), GAAP operating income in the range of $18 to $20 million, an increase of 12%-24%, EBITDA in the range of $30 to $32 million, an increase of 8%-15%, GAAP earnings per share (EPS) in the range of $0.45 to $0.47, inclusive of a $0.24 EPS impact from IRE investments (an increase from previous guidance of $0.43 to $0.47). According to Reuters Estimates, analysts on an average were expecting the Company to report EPS of $0.45, EBIT of $19 million on revenue of $210 million for fiscal 2010.
AngioDynamics, Inc. Issues FY 2010 Guidance; Earnings Guidance Below Analysts' Estimates
AngioDynamics, Inc. announced that for fiscal 2010, it expects net sales in the range of $209-$215 million, GAAP operating income in the range of $18-$20 million, EBITDA in the range of $30-$32 million and GAAP earnings per share (EPS) in the range of $0.43-$0.47, inclusive of a $0.24 EPS impact from IRE investments. According to Reuters Estimates, analysts were expecting the Company to report revenue of $215 million, EBIT of $23 million, EBITDA of $37 million and GAAP EPS of $0.59 for the same period.
AngioDynamics, Inc. Lowers FY 2009 Guidance
AngioDynamics, Inc. updated fiscal 2009 outlook incorporating the results from the third quarter of 2009 and the acquisition of FlowMedica assets. The Company now expects net sales in the range of $195-$198 million; GAAP operating income in the range of $17-$18 million; EBITDA in the range of $29-$30 million and GAAP EPS in the range of $0.42-$0.45, inclusive of the expenses incurred for the CEO transition. According to Reuters Estimates, analysts were expecting the Company to report revenue of $198 million, EBIT of $20 million, EBITDA of $35 million and GAAP EPS of $0.45 for the same period.
AngioDynamics, Inc. Announces Appointment Of President And CEO
AngioDynamics, Inc. announced that its Board of Directors have appointed Jan Keltjens, President and Chief Executive Officer (CEO) effective March 1, 2009. Mr. Keltjens, will succeed Eamonn Hobbs, who will become Vice Chairman of the Board of Directors.
AngioDynamics, Inc. Acquires FlowMedica Benephit Renal Therapy Product Line
AngioDynamics, Inc. announced that it has purchased certain assets of privately-held FlowMedica Inc., a company in the emerging field of Targeted Renal Therapy (TRT). The transaction was structured as an asset purchase under which AngioDynamics will pay $1.75 million in cash for the assets of the business plus a contingent payment based on fiscal 2011 sales of Benephit products.
