AngioDynamics Swings To Q2 Profit

(RTTNews) - Medical device company AngioDynamics Inc. (ANGO) reported net income for the second quarter of $1.3 million or $0.04 per share, compared to a net loss of $0.3 million or $0.01 per share for the year-ago quarter.

Excluding items, adjusted net income for the second quarter was $6.2 million or $0.17 per share, compared to $4.9 million or $0.14 per share in the prior year quarter.

Net sales for the second quarte rose 4% to $92.1 million from $88.6 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.15 per share on revenue of $90.89 million for the second quarter. Analysts' estimates typically exclude special items.

Looking forward to the third quarter, the company forecasts net sales of $88 million to $91 million and adjusted earnings of $0.14 to $0.17 per share. Analysts currently expect the company to earn $0.17 per share on revenue of $90.68 million for the third quarter.

As a result of continued strong operational performance, the company raised its fiscal 2015 adjusted earnings outlook to a range of $0.66 to $0.72 per share from its prior outlook of $0.65 to $0.71 per share, but maintained its fiscal 2015 net sales guidance at $362 million to $368 million.

Analysts currently expect the company to earn $0.69 per share on revenue of $366.19 million for the fiscal year 2015.