AngioDynamics Trades Lower on Q1 Earnings Results

Shares of AngioDynamics

are trading lower in the after-hours following the release of the company's Q1 earnings results. Currently, shares are lower by 1.89%, trading at $14.00; they ended the regular session higher by 3.41%, at $14.27. AngioDynamics reported Q1 EPS of $0.08 on revenues of $54.4 million; the Street was looking for $0.09 per share on revenues of $53.6 million. Revenues increased 5.6% year over year. Oncology/Surgery sales were $17.9 million, an increase of 15% from the prior year, and included $2.3 million in NanoKnife System sales, a 105% year-over-year increase. "Our team generated solid first quarter results and achieved the guidance they provided in July," said Joseph DeVivo, President and CEO. "Since joining the company, I have been spending time getting to know the organization and see many positive attributes. We have two strong U.S. sales organizations and a very professional international team driving above-market growth. At the same time, key opinion leaders have confirmed to me the significant opportunity ahead for the NanoKnife(R) System.” AngioDynamics, Inc. is a provider of medical devices used in minimally invasive, image-guided procedures to treat peripheral vascular disease and local oncology therapy options for treating cancer, including radiofrequency ablation systems, NanoKnife Ablation Systems, surgical resection systems and embolization products for treating benign and malignant tumors.