Interventional technology developer AngioDynamics reported third-quarter 2009 results, which include its recent purchases of Diomed and FlowMedica.
For the quarter (end-February 28), the Queensbury, NY-based interventional technology provider booked net sales of $49.4 million, up 21% compared to the $40.7 million turned in during the same period in 2008. The company had net income of $1.9 million, compared with net income of $4.9 million a year ago, which the company attributed to the cost of a CEO transition and litigation settlement.
For the nine months ended February 28, AngioDynamics reported net sales of $142.2 million, up 19% compared to $119.7 million reported for the prior year. The company had net income of $7 million, compared with net income of $10.4 million in 2008.
In fiscal 2009, AngioDynamics began operating three business units: peripheral vascular, access, and oncology/surgery. Peripheral vascular sales were $20.7 million in the quarter, an increase of 35% from the third quarter a year ago, inclusive of the laser ablation products acquired from Diomed and the Benephit product line acquired from FlowMedica.
Sales in the company's access unit were $17.2 million in the quarter, an increase of 8% from the third quarter a year ago, and oncology/surgery sales grew 22% to $11.5 million.
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