AngioDynamics (NASDAQ: ANGO) reported Q3 EPS of $0.19, $0.03 worse than the analyst estimate of $0.22. Revenue for the quarter came in at $86.3 million versus the consensus estimate of $88.3 million.

• Net sales of $86.3 million, an increase of 3.0% year over year
• Gross margin declined 10 basis points year over year to 54.1%
• GAAP EPS of $0.02 per share; adjusted EPS of $0.19 per share
• Cash provided by operations of $8.3 million; capital expenditures of $0.9 million
• Received unconditional IDE approval from the FDA to initiate NanoKnife® DIRECT Clinical Study
• Won patent infringement dispute with Bard

“While we had pockets of softness in our financial performance during the third quarter, our overall performance remains strong, and we are confident that we will achieve our full-year guidance. We saw strong growth contributions during the quarter from AngioVac and Solero, as well as from Fluid Management,” commented Jim Clemmer, President and Chief Executive Officer of AngioDynamics, Inc. “Additionally, I am very excited that the FDA has approved the IDE for our NanoKnife® DIRECT Clinical Study, which is the next step toward this incredible technology improving the standard of care for patients afflicted with Stage III pancreatic cancer. The IDE approval also represents a milestone for AngioDynamics as we transform into an evidence-based Company focused on therapies and outcomes facilitated by our unique technologies.”

GUIDANCE:

AngioDynamics sees FY2019 EPS of $0.82-$0.86, versus the consensus of $0.85. AngioDynamics sees FY2019 revenue of $354-359 million, versus the consensus of $358.26 million.

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