AngioDynamics Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended November 30, 2015; Revises Earnings Guidance for the Year 2016; Provides Earnings Guidance for the Third Quarter of 2016
January 08, 2016 at 02:31 am IST
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AngioDynamics Inc. reported unaudited consolidated earnings results for the second quarter and six months ended November 30, 2015. For the quarter, the company's net sales were $89,234,000 against $92,149,000 a year ago. Operating income was $1,317,000 against $4,575,000 a year ago. Loss before income taxes was $728,000 against income before income taxes of $2,829,000 a year ago. Net loss was $362,000 against net profit of $1,338,000 a year ago. Loss per basic and diluted share was $0.01 against earnings per share basic and diluted of $0.04 a year ago. Adjusted net income was $5,058,000 against $6,229,000 a year ago. Adjusted diluted earnings per share were $0.14 against $0.17 a year ago. EBITDA was $8,395,000 against $11,874,000 a year ago. Adjusted EBITDA was $13,400,000 against $15,924,000 a year ago. EBITDA per diluted share was $0.23 against $0.33 a year ago. Adjusted EBITDA was $0.37 against $0.44 a year ago. Net cash provided by operating activities was $9,579,000 against net cash used in operating activities of $2,147,000 a year ago. Additions to property, plant and equipment was $425,000 against profit of $2,419,000 a year ago.
For the six months, the company's net sales were $172,937,000 against $179,480,000 a year ago. Operating income was $2,387,000 against $7,817,000 a year ago. Loss before income taxes was $1,402,000 against income before income taxes of $4,247,000 a year ago. Net loss was $1,119,000 against net profit of $1,808,000 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. Adjusted net income was $9,034,000 against $11,879,000 a year ago. Adjusted diluted earnings per share were $0.25 against $0.33 a year ago. EBITDA was $16,569,000 against $21,816,000 a year ago. Adjusted EBITDA was $25,294,000 against $30,351,000 a year ago. EBITDA per diluted share was $0.45 against $0.61 a year ago. Adjusted EBITDA was $0.69 against $0.84 a year ago. Net cash provided by operating activities was $14,278,000 against $3,205,000 a year ago. Additions to property, plant and equipment was $1,168,000 against profit of $7,523,000 a year ago.
The company revised its fiscal 2016 net sales guidance of $353 million to $359 million and adjusted earnings per share (EPS) of $0.59 to $0.63. The company expects maintenance CapEx between $6 million to $8 million. The company expects CapEx between $4 million to $6 million.
The company expects fiscal 2016 third quarter net sales to be in the range of $84 to $87 million and adjusted EPS of $0.10 to $0.14.
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, 2015; Revises Earnings Guidance for the Year 2016; Provides Earnings Guidance for the Third Quarter of 2016