AngioDynamics (ANGO) Tops Q2 EPS by 2c; Boosts Outlook

AngioDynamics (NASDAQ: ANGO) reported Q2 EPS of $0.17, $0.02 better than the analyst estimate of $0.15. Revenue for the quarter came in at $92.1 million versus the consensus estimate of $90.9 million.

AngioDynamics sees FY2015 EPS of $0.66-$0.72, versus the consensus of $0.69. AngioDynamics sees FY2015 revenue of $362-368 million, versus the consensus of $366.2 million.

"The strong sales momentum we established last fiscal year continued in the second quarter of FY15 as net sales growth, excluding the supply agreement, reached the high end of our expectation at 5%. Cost savings initiatives and restructuring actions enabled us to realize operating margin expansion leading to earnings per share (non-GAAP) growth of 21% to $0.17 cents per share compared to last year's fiscal second quarter," commented Joseph M. DeVivo, President and Chief Executive Officer. "Our three core businesses each made a positive contribution to our strong performance, marking the seventh consecutive quarter for year-over-year sales growth. Oncology/Surgery produced strong 9% net sales growth and was a key driver for our International business. Our Vascular Access business also posted an impressive 9% increase, fueled by the continued strong performance of our BioFlo platform. Today, BioFlo PICCs represent nearly 60% of our total PICC volume, while our BioFlo offerings in ports and dialysis reached double-digit shares of those product categories in the quarter. Peripheral Vascular grew 1% as it anniversaried an impressive quarter last year, and our fast growing AngioVac technology grew 46% in the quarter as we continue to penetrate the thromboembolism market opportunity. Based on the Company's execution and the performance of our growth drivers in the first half fiscal year 2015, we believe we are extremely well positioned to continue this strong momentum in the second half of Fiscal 2015 to deliver increased net sales, margin expansion and profitability to our shareholders."

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

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