AngioDynamics Inc. announced unaudited consolidated earnings results for the second quarter and six months ended November 30, 2014. Net sales of $92.1 million increased 4% compared with last year's second quarter net sales of $88.6 million. Excluding the planned wind-down of the supply agreement with Boston Scientific (BSC), second quarter sales were up 5% to $91 million compared to $86.9 million in last year's second quarter. The following sales comparisons exclude the BSC supply agreement. The company's net income was $1.3 million, or $0.04 on a per share basis, compared to a net loss of $0.3 million, or $0.01 on a per share basis, a year ago. Excluding the items, adjusted net income was $6.2 million, or $0.17 per share, for the second quarter compared to net income of $4.9 million, or $0.14 per share, for the year ago quarter, representing a 21% increase. Second quarter EBITDA grew to $11.9 million, or $0.33 per share, compared to $8.6 million, or $0.24 per share, in the year ago period. Adjusted EBITDA, excluding the items, was $15.9 million, or $0.44 per share, compared to $13.5 million, or $0.38 per share, in the year ago comparable period, representing a 18% increase. Operating income was $4,575,000 against $1,441,000 a year ago. Profit before income taxes was $2,830,000 against loss before income taxes of $350,000 a year ago. Net cash used in operating activates was $2,147,000 against net cash provided by operating activities of $8,458,000 a year ago. Additions to property, plant and equipment was $2,419,000 against $4,288,000 a year ago. Acquisition of intangible assets was $96,000 against $150,000 a year ago.

For the six months ended November 30, 2014, net sales were $179.5 million, a 4% increase compared to the $172.2 million reported a year ago. The Company's net income was $1.8 million, or $0.05 per share, compared to net loss of $0.6 million, or $0.02 per share, reported a year ago. Excluding the items, adjusted net income was $11.9 million, or $0.33 per share, compared to net income of $8.9 million, or $0.25 per share, a year ago, representing a 32% increase. EBITDA was $21.8 million, or $0.61 per share, compared to EBITDA of $16.7 million, or $0.47 per share, a year ago. Adjusted EBITDA, excluding the items was $30.4 million, or $0.84 per share, compared to $25.6 million, or $0.73 per share, in the year ago period, representing a 19% increase. Operating income was $7,817,000 against $2,843,000 a year ago. Profit before income taxes was $4,248,000 against loss before income taxes of $913,000 a year ago. Net cash provided by operating activities was $3,205,000 against $15,758,000 a year ago. Additions to property, plant and equipment was $7,523,000 against $7,191,000 a year ago. Acquisition of intangible assets was $250,000 against $150,000 a year ago.

For the fiscal year of 2015, as a result of continued strong operational performance, the company is raising both the lower and upper end of adjusted earnings per share (EPS) guidance to a range of $0.66 to $0.72. Net sales guidance range at $362 million to $368 million.

For the third quarter, the company is anticipating net sales to range from $88 million to $91 million in the third quarter, 5% at the top end excluding supply agreement. Adjusted EPS excluding amortization is expected to be $0.14 to $0.17, representing a 21% improvement over third quarter fiscal 2014 at the high end.