AngioDynamics ends Q4 with $34 million cash, debt of $121.4 million

By Lisa Kerner

Charlotte, N.C., July 13 – AngioDynamics, Inc. ended its fourth quarter on May 31 with cash and investments of $34 million and debt of $121.4 million, according to the company’s earnings news release.

“Our fourth-quarter results reflect a solid quarter of revenue and adjusted EPS growth driven primarily by outperformance in our Peripheral Vascular business, which saw a 10% increase over the prior-year period,” said president and chief executive officer Jim Clemmer.

AngioDynamics also drove strong free cash flow generation during the quarter of $18.1 million, which was attributed to improved inventory management.

Sales for the quarter were up 3% year over year at $93.4 million. For the full year, net sales were $353.7 million.

Non-GAAP adjusted earnings per share were up 37% year over year at $0.19.

Looking ahead, the company expects first-quarter sales to be between $84 million to $87 million, with full-year fiscal 2017 sales of between $355 million and $360 million, said Clemmer during the company’s earnings call on Wednesday.

Adjusted earnings per share for the first quarter are expected to be $0.11 to $0.14 and between $0.62 and $0.65 for the full year.

Cash flow for fiscal 2017 is expected to be more than $30 million, according to Clemmer.

AngioDynamics is a Latham, N.Y.-based provider of medical devices for vascular access, surgery, peripheral vascular disease and oncology.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.