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AngioDyanamics (ANGO) Reports Q4 Loss, Revenues Lag Estimates

AngioDynamics, Inc. ANGO reported fourth-quarter fiscal 2020 adjusted loss per share of 6 cents, wider than the Zacks Consensus Estimate of a loss of 5 cents. The company reported earnings per share (EPS) of 7 cents in the year-ago quarter.

For fiscal 2020, adjusted EPS was 9 cents, down from the year-ago tally by 59.1%. The bottomline lagged the Zacks Consensus Estimate of 11 cents by 18.2%.

Revenue Details

For the fiscal fourth quarter, revenues totaled $58.3 million, which lagged the Zacks Consensus Estimate by 6.3%. Further, the top line fell 18.1% on a year-over-year basis.

For fiscal 2020, revenues of the company came in at $264.2 million, which lagged the Zacks Consensus Estimate by 1.5%. Also, the top line fell 2.4% on a year-over-year basis.

Geographical Analysis

In the quarter under review, U.S. net revenues totaled $44.6 million, down 18.4% year over year.

International revenues came in at $13.7 million, down 10.9%.

Segmental Analysis

Vascular Interventions and Therapies (VIT) Business

VIT revenues in the fiscal fourth quarter grossed $22.1 million, down 28.8% from the year-ago quarter.

Vascular Access (VA) Business

Revenues at this segment amounted to $23.7 million, down 4.6% on a year-over-year basis.

Oncology/Surgery Business

Revenues at the Oncology segment declined 18% year over year to $12.5 million. Per management, higher sales of NanoKnife were more than offset by declines across the rest of the Oncology portfolio.

Margin Analysis

In the quarter under review, gross profit totaled $30.2 million, down 26.9% from the year-ago quarter number. Moreover, gross margin was 51.8%, down 628 basis points (bps).

Adjusted operating loss came in at $3.4 million against operating profit of $5.2 million in the year-ago period.

AngioDynamics, Inc. Price, Consensus and EPS Surprise

 

AngioDynamics, Inc. Price, Consensus and EPS Surprise

AngioDynamics, Inc. price-consensus-eps-surprise-chart | AngioDynamics, Inc. Quote

Guidance

Although AngioDynamics experienced signs of recovery throughout the quarter under review, uncertainty regarding the magnitude and extent of the pandemic kept the company from issuing the financial outlook for fiscal 2021 for now.

Summary

AngioDynamics exited the fiscal 2020 on a mixed note. The company plans to continue investing strategically in its key technology platforms and ramp up Auryon, supply chain and commercial efforts. Management continues to be optimistic about the acquisition of the C3 Wave PICC tip location system from Medical Components Inc. However, the company witnessed revenue decline across all business segments in the quarter under review. Also, the company witnessed gross margin contraction in the quarter.

Zacks Rank & Key Picks

Currently, AngioDynamics carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader medical space are ViewRay, Inc. VRAY, Opko Health OPK and ResMed Inc. RMD. While ViewRay carries a Zacks Rank #1 (Strong Buy), the other two carry a Zacks Rank #2 (Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for ViewRay’s second-quarter 2020 bottom line is pegged at a loss of 16 cents per share, indicating 50% narrower loss than the year-ago reported quarter figure.

The Zacks Consensus Estimate for Opko Health’s second-quarter 2020 bottom line stands at a loss of 7 cents per share, suggesting 30% improvement from the year-ago period. The same for revenues is pegged at $234.6 million, calling for a 3.6% increase from the year-earlier reported figure.

The Zacks Consensus Estimate for ResMed’s fourth-quarter fiscal 2020 revenues is $710.9 million, calling for a 0.9% increase from the year-earlier reported figure. The same for adjusted earnings per share stands at 99 cents, indicating a 4.2% rise from the year-ago reported figure.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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