AngioDynamics (NASDAQ: ANGO) reported Q1 EPS of $0.02, $0.09 better than the analyst estimate of ($0.07). Revenue for the quarter came in at $70.2 million versus the consensus estimate of $65.1 million.

Fiscal 2021 First Quarter Highlights

• Net sales of $70.2 million increased 6.3% compared to the prior-year quarter, inclusive of the previously disclosed $5.2 million order from the National Health Service (NHS) in the UK
• Gross margin declined 700 basis points year over year to 50.9%
• GAAP loss per share of $0.11 and adjusted earnings per share of $0.02
• Cash and cash equivalents on August 31, 2020 were $47.9 million, compared to $54.4 million on May 31, 2020
• The Company expects fiscal year 2021 net sales between $278 and $284 million and fiscal year 2021 adjusted earnings per share between $0.00 and $0.05
• Subsequent to quarter end, the Company announced the full commercial launch of its Auryon Atherectomy System

“We had a strong first quarter, as our customers continued to show signs of recovery from the disruption of COVID-19,” commented Jim Clemmer, President and Chief Executive Officer of AngioDynamics, Inc. “While customer demand has not yet returned to pre-COVID levels, the team is clearly executing in this challenging environment. Our key technology platforms performed well during the quarter, including strong sales growth of our AngioVac platform and more than $1 million in sales of our Auryon platform. We’re still seeing the impact of COVID, particularly in our Oncology business, but, despite the unique challenges presented by this environment, we remain confident in our ability to efficiently manage the business while growing our key technology platforms.”

GUIDANCE:

AngioDynamics sees FY2021 EPS of $0.00-$0.05, versus the consensus of ($0.10). AngioDynamics sees FY2021 revenue of $278-284 million, versus the consensus of $274.48 million.

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