AngioDynamics (NASDAQ: ANGO) reported Q1 EPS of $0.16, $0.02 worse than the analyst estimate of $0.18. Revenue for the quarter came in at $85.3 million versus the consensus estimate of $84 million.

• Net sales of $85.3 million, flat versus prior year
• Gross margin expanded 380 basis points year over year to 52.1%
• GAAP EPS of $(0.01) per share; adjusted EPS of $0.16 per share
• Cash used in operations of $8.9 million; capital expenditures of $0.7 million
• Announced two acquisitions as part of the Company’s strategic focus on building a continuum of care within the oncology space;
  • BioSentry Tract Sealant System technology from Surgical Specialties, LLC
  • Subsequent to quarter end, RadiaDyne and its proprietary OARtrac® radiation dose monitoring platform

“Our operating and financial accomplishments during the first quarter reflect our ongoing commitment to building a more cohesive, patient-focused product portfolio. As evidenced by our two recent acquisitions, we are making progress on our portfolio optimization efforts with a focus on the continuum of care within oncology, as well as on disruptive and differentiated technologies,” commented Jim Clemmer, President and Chief Executive Officer of AngioDynamics, Inc. “Our first quarter results give us continued confidence in meeting our financial goals for fiscal 2019.”

GUIDANCE:

AngioDynamics sees FY2019 revenue of $354-359 million, versus the consensus of $347.44 million.

For earnings history and earnings-related data on AngioDynamics (ANGO) click here.