Back to top

Image: Bigstock

AngioDynamics (ANGO) Q2 Earnings and Revenues Top Estimates

Read MoreHide Full Article

AngioDynamics, Inc. (ANGO - Free Report) reported second-quarter fiscal 2021 adjusted earnings per share (EPS) of 1 cent. The Zacks Consensus Estimate was of a loss of 2 cents per share. The company, however, saw an 83.3% plunge in its bottomline from the year-ago quarter.

Revenue Details

For the fiscal second quarter, revenues totaled $72.8 million, which beat the Zacks Consensus Estimate by 8%. Further, the top line rose 4% on a year-over-year basis.

Geographical Analysis

In the quarter under review, U.S. net revenues totaled $60.7 million, up 9.2% year over year.

International revenues came in at $12.1 million, down 16.3% from the year-ago quarter.

Segmental Analysis

Vascular Interventions and Therapies (VIT) Business

VIT revenues in the fiscal second quarter grossed $33.9 million, up 8.8% from the year-ago period. This was driven by growth in AngioVac sales, partially offset by a fall in Venous product sales due to a drop in elective procedure volumes. 

Vascular Access (VA) Business

Revenues at this segment amounted to $23.9 million, up 5% on a year-over-year basis.

Oncology/Surgery Business

Here revenues declined 7% year over year to $14.9 million. Per management, this  downside was due to lower capital sales, partially offset by robust growth in the sales of NanoKnife disposables, especially in the United States.

Margin Analysis

In the quarter under review, gross profit totaled $40.2 million, down 3.3% from the year-ago quarter. Moreover, gross margin was 55.2%, down 414 basis points (bps).

Adjusted operating profit came in at $1.1 million, down 60% year over year. Adjusted operating margin contracted 235 bps to 1.5%.

 

AngioDynamics, Inc. Price, Consensus and EPS Surprise

AngioDynamics, Inc. Price, Consensus and EPS Surprise

 

AngioDynamics, Inc. price-consensus-eps-surprise-chart | AngioDynamics, Inc. Quote

 

2021 Guidance

Revenues are reaffirmed in the range of $278-$284 million.The Zacks Consensus estimate for the same is pegged at $281 million.

Adjusted EPS is reiterated between a breakeven and 5 cents. The Zacks Consensus Estimate for the metric is pegged at a penny.

Cash Position

The company exited the fiscal second quarter with cash and cash equivalents of $58 million compared with $47.9 million at the end of the first quarter of fiscal 2021. Cumulative net cash provided by operating activities came in at $6 million compared with net cash used in the same of $0.6 million a year ago.

Summary

AngioDynamics exited the second quarter of fiscal 2021 on a strong note. The company continued gaining from the Auryon Atherectomy System launch. It saw revenue growth in two of its operating segments. It witnessed a solid performance of its technology platforms including strong sales growth in the AngioVac arm and $2.1 million worth of sales in its Auryon suite.

However, the company witnessed a revenue decline in the Oncology segment during the quarter under review. Also, contraction in both margins is worrisome.

Zacks Rank & Key Picks

Currently, AngioDynamics carries a Zacks Rank #3 (Hold). Some better-ranked stocks, which are likely to report earnings soon, are Amedisys, Inc. (AMED - Free Report) , IDEXX Laboratories, Inc. (IDXX - Free Report) and Hologic, Inc. (HOLX - Free Report) .

The Zacks Consensus Estimate for Amedisys' fourth-quarter 2020 adjusted EPS is currently pegged at $1.45. The consensus estimate for fourth-quarter revenues stands at $553.1 million. The company currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

IDEXX currently carries a Zacks Rank of 2. The Zacks Consensus Estimate for fourth-quarter 2020 adjusted EPS is currently pegged at $1.43. The consensus estimate for fourth-quarter revenues is pegged at $677.5 million.

Hologic currently sports a Zacks Rank #1. The Zacks Consensus Estimate for Hologic's first-quarter fiscal 2021 adjusted EPS is pegged at $2.14. The consensus estimate for revenues stands at $1.38 billion.

More Stock News: This Is Bigger than the iPhone!

It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.

Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.

Click here for the 6 trades >>