AngioDynamics Q3 Earnings Surpass Street View On Higher Sales

(RTTNews) - Medical technology company AngioDynamics, Inc. (ANGO) on Thursday said its net loss of in the third quarter widened to $4.96 million, or $0.13 per share from $3.54 million, or $0.09 per share loss a year ago, hurt by supply chain disruptions, procedural challenges and inflationary pressures.

Excluding one-time items, the company posted earnings of $1.31 million or $0.03 per share, that beat the average estimate of analysts polled by Thomson Reuters of $0.01 loss per share. Analysts' estimates typically exclude special items.

Net sales for the quarter increased to$73.97 million from $71.18 million last year. The consensus estimate stood at $76.32 million.

Looking forward, AngioDynamics expects full-year sales to be in the range of $310 million- $315 million and adjusted earnings to be in the range of a loss of $0.02 to a gain of $0.02. Analysts see loss of $0.01 per share on revenue of $313.65 million for the period.

ANGO shares are up more than 11% in pre-market at $24. It closed at $21.54, up $0.23 o 1.08% on Wednesday.