AngioDynamics Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended November 30, 2016; Revises Earnings Guidance for the Year 2017
January 06, 2017 at 04:30 pm IST
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AngioDynamics Inc. reported unaudited consolidated earnings results for the second quarter and six months ended November 30, 2016. For the quarter, the company's net sales were $89,029,000 against $89,234,000 a year ago. Operating income was $15,588,000 against $565,000 a year ago. Income before income taxes was $14,415,000 against loss before income taxes of $565,000 a year ago. Net income was $13,734,000 against net loss of $334,000 a year ago. Earnings per basic and diluted share were $0.37 against loss per share basic and diluted of $0.01 a year ago. Adjusted net income was $6,926,000 against $5,100,000 a year ago. Adjusted diluted earnings per share were $0.19 against $0.14 a year ago. EBITDA was $21,621,000 against $7,643,000 a year ago. Adjusted EBITDA was $16,141,000 against $13,528,000 a year ago. EBITDA per diluted share was $0.58 against $0.21 a year ago. Adjusted EBITDA was $0.43 against $0.37 a year ago. Net cash provided by operating activities was $14,947,000 against $9,579,000 a year ago. Additions to property, plant and equipment was $1,365,000 against $425,000 a year ago. The company generated $13.6 million in free cash flow.
For the six months, the company's net sales were $177,127,000 against $173,037,000 a year ago. Operating income was $19,160,000 against $777,000 a year ago. Income before income taxes was $17,318,000 against loss before income taxes of $1,376,000 a year ago. Net income was $15,034,000 against net loss of $1,109,000 a year ago. Loss per basic and diluted share was $0.03 against earnings per share basic and diluted of $0.05 a year ago. Earnings per basic and diluted share were $0.41 against loss per share basic and diluted of $0.03 a year ago. Adjusted net income was $13,323,000 against $9,042,000 a year ago. Adjusted diluted earnings per share were $0.36 against $0.25 a year ago. EBITDA was $31,236,000 against $14,849,000 a year ago. Adjusted EBITDA was $30,993,000 against $25,122,000 a year ago. EBITDA per diluted share was $0.84 against $0.41 a year ago. Adjusted EBITDA was $0.84 against $0.69 a year ago. Net cash provided by operating activities was $22,387,000 against $14,278,000 a year ago. Additions to property, plant and equipment was $1,846,000 against $1,168,000 a year ago.
The company announced its fiscal year 2017 revenue guidance will remain unchanged, with net sales guidance in the range of $355 million to $360 million. The company is increasing its fiscal year 2017 adjusted EPS guidance from a range of $0.62 to $0.65 to a range of $0.65 to $0.67 and free cash flow guidance from greater than $30 million to greater than $35 million.
AngioDynamics, Inc. is a transformative medical technology company. The Company is focused on restoring healthy blood flow in the body's vascular system, expanding cancer treatment options and improving quality of life for patients. It designs, manufactures, and sells a range of medical, surgical and diagnostic devices used by professional healthcare providers for vascular access, for the treatment of peripheral vascular disease and for use in oncology and surgical settings. Its devices are generally used in minimally invasive, image-guided procedures. Its segments include Med Tech and Med Device. Its product categories include oncology, venous therapies, vascular interventions, and ports. Its oncology products include Model 1500X RF Generator, IsoLoc Endorectal Balloon, Habib 4X Laparoscopic Bipolar Resection Device, Habib 4X Bipolar Resection Device, and Alatus. Its venous therapies include VenaCure EVLT 1470 Pro Laser, VenaCure EVLT System, VenaCure EVLT Procedure Packs, and others.
AngioDynamics Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended November 30, 2016; Revises Earnings Guidance for the Year 2017