AngioDynamics Q1 Results Top Estimates; Boosts FY22 Sales Outlook - Quick Facts

(RTTNews) - While reporting financial results for the first quarter on Thursday, medical devices company AngioDynamics, Inc. (ANGO) maintained its adjusted earnings guidance for the full year 2022, while raising annual net sales outlook.

For fiscal 2022, the company maintained its adjusted earnings guidance in the range of flat to $0.05 per share, while raising its net sales guidance to between $310 million and $315 million from the prior range between $305 million and $310 million.

On average, four analysts polled by Thomson Reuters expect the company to report earnings of $0.01 per share on net sales of $307.82 million for the year. Analysts' estimates typically exclude special items.

For the first quarter, the company reported a net loss of $6.97 million or $0.18 per share, wider than $4.27 million or $0.11 per share in the prior-year quarter.

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

Net sales for the quarter increased 9.6 percent to 76.97 million from $70.22 million in the same quarter last year.

The Street was looking for a loss of $0.04 per share on net sales of $71.31 million for the quarter.