AngioDynamics posts 2020 Q1 results

By AuntMinnie.com staff writers

October 3, 2019 -- Interventional technology developer AngioDynamics has posted financial results for the first quarter of 2020 (end-August 31).

The company had first-quarter sales of $66 million, an increase of 3.3% compared with $63.9 million in the same period last year. Sales for its Oncology division were $14 million, an increase of 20.9% from $11.6 million a year ago, while sales for its Vascular Interventions and Therapies division were $28.9 million, an increase of 1.1% compared with $28.6 million a year ago.

The firm's net loss for the period was $1.3 million, compared with a net loss of $469,000 during the same period last year.

In other AngioDynamics news, the company has acquired Eximo Medical and its 355-nm-wavelength laser atherectomy technology for $46 million, with up to $20 million further payment contingent on particular technical and revenue milestones, it said. The technology has received clearance from the U.S. Food and Drug Administration (FDA) for treating peripheral artery disease.


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