AngioDynamics (NASDAQ: ANGO) reported Q2 EPS of $0.01, $0.03 better than the analyst estimate of ($0.02). Revenue for the quarter came in at $72.8 million versus the consensus estimate of $67.35 million.

Fiscal 2021 Second Quarter Highlights

• Net sales of $72.8 million increased 4.0% compared to the prior-year quarter
• Gross margin declined 410 basis points year over year to 55.2%
• GAAP loss per share of $0.11 and adjusted earnings per share of $0.01
• Cash and cash equivalents on November 30, 2020 were $58.0 million, compared to $47.9 million on August 31, 2020
• The Company reaffirms its guidance of fiscal year 2021 net sales between $278 and $284 million and fiscal year 2021 adjusted earnings per share between $0.00 and $0.05
• Today, the Company announced that it plans to launch its new multi-purpose mechanical aspiration thrombectomy device in calendar year 2021.

“I am very pleased with our performance in the second quarter, as sales execution and continued expense management drove strong revenue and positive earnings,” commented Jim Clemmer, President and Chief Executive Officer of AngioDynamics, Inc. “AngioVac and Auryon performed well during the quarter, as we continue to focus on growing our key technology platforms while managing expenses throughout the business. In the second half of the year, we expect ongoing COVID-related headwinds as well as typical third-quarter seasonality, which is contemplated in our full-year guidance. We are excited about the planned launch of our multi-purpose mechanical aspiration thrombectomy device in calendar 2021, as this new member of the AngioVac platform family will position us to serve the much larger addressable market of moderately complex thrombectomy cases, while AngioVac and Uni-Fuse continue to address the complex and simple ends of the spectrum, respectively.”

GUIDANCE:

AngioDynamics sees FY2021 EPS of $0.00-$0.05, versus the consensus of $0.02. AngioDynamics sees FY2021 revenue of $278-284 million, versus the consensus of $281.66 million.

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