AngioDynamics Q1 Results Miss Estimates; Reaffirms FY23 Outlook

(RTTNews) - While reporting financial results for the first quarter on Thursday, medical devices company AngioDynamics, Inc. (ANGO) reaffirmed its adjusted earnings and net sales guidance for the full year 2023.

For fiscal 2023, the company continues to project adjusted earnings in the range of $0.01 to $0.06 per share on net sales between $342 million and $348 million.

On average, four analysts polled by Thomson Reuters expect the company to report earnings of $0.02 per share on net sales of $344.21 million for the year. Analysts' estimates typically exclude special items.

For the first quarter, the company reported a net loss of $13.00 million or $0.33 per share, wider than $6.97 million or $0.18 per share in the prior-year quarter.

Excluding item, adjusted loss for the quarter was $0.33 per share, compared to adjusted loss of $0.02 per share in the year-ago quarter.

Net sales for the quarter increased 5.9 percent to 81.54 million from 76.97 million in the same quarter last year.

The Street was looking for a loss of $0.02 per share on net sales of $83.42 million for the quarter.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com