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- AngioDynamics Inc (NASDAQ:ANGO) has reported a Q3 FY22 adjusted EPS of $0.03, ahead of the consensus of $(0.01), and better than the consensus of $0.02 reported a year ago.
- Q3 sales increased 3.9% Y/Y to $73.97 million, missing the analyst consensus of $76.32 million.
- Endovascular Therapies net sales increased 14.5% to $38.1 million, driven by strength in atherectomy and thrombectomy portfolios.
- Oncology net sales declined 5% Y/Y to $12.5 million due to procedural volume pressures related to COVID and lower NanoKnife capital sales.
- Vascular Access's net sales declined 5.6% to $23.4 million.
- The gross margin compressed 190 bps to 52.2%, impacted by the tight labor market and increased expenses for raw materials, labor, and freight.
- Adjusted EBITDA was $6.7 million, compared to $5.4 million in Q3 of FY21.
- Guidance: For FY22, AngioDynamics reaffirmed sales guidance of $310 million - $315 million versus the consensus of $313.65 million.
- The company expects gross margin of approximately 52.0% to 54.0% and adjusted EPS of $(0.02) - $0.02 (consensus loss of $0.01).
- Price Action: ANGO stock traded 10.50% higher at $23.80 on the last check Thursday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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