AngioDynamics has sufficient liquidity for next 12 months

By Lisa Kerner

Charlotte, N.C., Oct. 11 - AngioDynamics, Inc. believes its current cash and investment balances will be sufficient for the company to meet its capital requirements for the at least the next 12 months.

Additional financing, however, would be required if AngioDynamics seeks significant acquisitions of other businesses or technologies for cash, according to a form 10-Q filing with the Securities and Exchange Commission.

For the quarter, the company financed operations through cash flow from operations and the proceeds of its 2004 and 2006 public offerings.

At Sept. 2, AngioDynamics' total debt was $6.4 million, including short and long-term bank debt of $2.9 million for financing for facility expansion.

Cash flow from operations generated $578,000 on net income of $1.9 million for the 2007 quarter.

Investing activities provided net cash of $5.9 million.

AngioDynamics is a medical device company based in Queensbury, N.Y.

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