By Denny Jacob
AngioDynamics narrowed its loss in its latest quarter even as sales declined from a year earlier.
The medical-device maker narrowed its loss to $10.7 million, or 26 cents a share, for the second quarter ended Nov. 30, from about $29 million, or 72 cents a share, a year earlier.
Stripping out one-time items, the loss came in at 4 cents a share. Analysts polled by FactSet expected a loss of 11 cents a share.
Sales declined to $72.8 million from $79.1 million, above analysts' estimates of $70.9 million. On a pro-forma basis, sales rose 9.2% to about $73 million.
Medical-technology pro-forma net sales rose 25% to $31.5 million, while medical-device pro-forma net sales ticked down 0.4% to $41.5 million.
For fiscal 2025, AngioDynamics now sees an adjusted loss per share in the range of 34 cents to 38 cents compared with its prior guidance set between 38 cents and 42 cents.
Chief Executive Jim Clemmer said the company now expects adjusted earnings before interest, taxes, depreciation, and amortization to be positive for the fiscal year.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
January 08, 2025 07:05 ET (12:05 GMT)
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