By Denny Jacob
AngioDynamics' loss narrowed in its latest quarter as a sharp reduction in total operating expenses helped the bottom line improve.
The medical-device maker recorded a loss of $4.4 million, or 11 cents a share, for the third quarter ended Feb. 28, from about $187.7 million, or $4.67 a share, in the prior-year period.
Stripping out certain one-time items, its loss came in at 8 cents a share. Analysts polled by FactSet expected a loss of 13 cents a share.
Operating expenses in the quarter totaled $48.8 million, down from $242.4 million in the prior-year period.
Sales declined to about $72 million from $75.2 million. Analysts polled by FactSet expected $70.3 million.
Medical-technology pro-forma net sales rose 22% to $31.3 million, while medical-device pro-forma net sales edged up 0.9% to $40.7 million.
For fiscal 2025, AngioDynamics now expects adjusted sales to fall between $285 million and $288 million compared with its previous forecast in the range of $282 million and $288 million. The company expects an adjusted loss per share between 31 cents and 34 cents; its prior guidance called for an adjusted loss per share between 34 cents and 38 cents.
Shares rose 8.9% to $10.52 in premarket trading. The stock is up 59% over the last year through Tuesday's close.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
April 02, 2025 07:07 ET (11:07 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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