AngioDynamics Inc. (NASDAQ:ANGO) 4Q18 Earnings Miss Estimate; Reveals Strong Outlook

AngioDynamics Inc

AngioDynamics Inc. (NASDAQ:ANGO) reported net income for the fourth quarter of $ 2.10 million or $ 0.06 per share, compared to loss $ 12.91 million or $ 0.35 per share for the year-ago quarter.

The Latham, New York based company recorded fourth quarter adjusted net income of $ 7.67 million or $ 0.20 per share.

The net sales for fourth quarter rose 2% to $ 88.32 million from $ 86.91 million in the same quarter last year.

Analysts polled by Thomson Reuters expected ANGO to report income of $ 0.21 per share on revenue of $ 89.32 million for the fourth quarter.

Jim Clemmer, President and CEO, commented, Our quarterly and full-year results showed further improvement in our operational outcomes, continuing our path to sustainable long-term growth. We are very pleased with our year-over-year gross margin expansion and solid profitability, as well as our consistent free cash flow generation.

The Company expects its fiscal year 2019 net sales to be in the range of $344 to $349 million, while adjusted earnings are to be in the range of $0.82 to $0.86 per diluted share.

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