AngioDynamics Provides Preliminary Fiscal 2013 Third Quarter Results

Published: Mar 08, 2013

ALBANY, N.Y., March 7, 2013 (GLOBE NEWSWIRE) -- AngioDynamics (Nasdaq:ANGO), a leading provider of innovative, minimally invasive medical devices for vascular access, surgery, peripheral vascular disease and oncology, today provided preliminary unaudited financial results for the fiscal 2013 third quarter ended February 28, 2013.

Currently, the Company expects to report net sales for the third quarter of approximately $82 million, compared to the Company's previous net sales forecast of $89 million to $90 million. The Company's third quarter net sales were primarily impacted by sales attrition in its Vascular Access business, softness in procedure volumes in the Company's Peripheral Vascular business, and delays in capital equipment purchases that reduced Oncology/Surgery sales. During the third quarter, the Company continued to implement its cost reduction initiatives, which partially offset the lower than expected sales level. As a result, the Company expects to report adjusted net income for the third quarter in the range of $0.04 per share to $0.06 per share.

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