AngioDynamics (NASDAQ: ANGO) reported Q2 EPS of $0.06, $0.04 better than the analyst estimate of $0.02. Revenue for the quarter came in at $70 million versus the consensus estimate of $71.28 million.

• Net sales of $70.0 million, flat compared to the prior-year quarter
• Gross margin increased 140 basis points year over year to 59.3%
• GAAP loss per share of $0.07; adjusted earnings per share of $0.06
• Announces the acquisition of C3 Wave PICC tip location system subsequent to quarter end

“Sales growth of 2.5%, ex-Asclera, exhibited continued momentum during the quarter, and I am pleased with the resulting gross margin expansion and profitability,” commented Jim Clemmer, President and Chief Executive Officer of AngioDynamics, Inc. “We are making excellent progress on the integration of Eximo Medical and are currently building out a dedicated commercial organization to support a product launch in the second half of our fiscal year 2020. I’m also excited to announce the acquisition of the C3 Wave tip location product, which will fill a technology gap in our portfolio and enable broader market adoption of our innovative BioFlo PICCs. Looking ahead, strong growth in sales of our AngioVac and NanoKnife products during the quarter should position us well to achieve our full-year guidance and drive growth across our portfolio.”

GUIDANCE:

AngioDynamics sees FY2020 EPS of $0.10-$0.15, versus the consensus of $0.13. AngioDynamics sees FY2020 revenue of $280-286 million, versus the consensus of $281.03 million.

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