Revenues from recent acquisitions boosted sales for interventional technology developer AngioDynamics in its fiscal 2009 fourth quarter, the company announced.
For the period (end-May 31), the Queensbury, NY-based vendor had sales of $52.8 million, up 13% from the $46.8 million booked a year ago. AngioDynamics had fourth-quarter net income of $2.9 million, up from $519,000 in the same period last year.
For fiscal 2009, AngioDynamics had $195.1 million in sales, up 17% compared with the $166.5 million recorded in fiscal 2008. The company had a net income of $9.9 million, compared with $10.9 million the year before; it attributed the decline in net income to increased operating expenses associated with its investments in irreversible electroporation (IRE) technology and sales and marketing programs.
In 2009, AngioDynamics began operating as three business units: Peripheral Vascular, Access, and Oncology/Surgery. Peripheral Vascular sales were $22.5 million in the fourth quarter, an increase of 26% from the fourth quarter a year ago, inclusive of the laser ablation products acquired from Diomed and the Benephit renal infusion system acquired from FlowMedica. Access sales were $17.9 million for the quarter, a decrease of 1% from the fourth quarter a year ago, and Oncology/Surgery sales grew 15% to $12.4 million from the fourth quarter a year ago.
For 2010, the company expects net sales in the range of $209 million to $215 million, an increase of 7% to 10% over fiscal 2009 net sales, AngioDynamics said.
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