Interventional technology developer AngioDynamics reported a 3% increase in net sales and lower profits for its fiscal third quarter.
For the period (end-February 28), the company had net sales of $86.3 million, up from $83.9 million reported in the same quarter last year. AngioDynamics had third-quarter net income of $800,000, compared with net income of $14 million a year ago.
The quarter featured strong sales growth in its AngioVac and Solero products, as well as in its fluid management business, according to president and CEO Jim Clemmer. Despite "pockets of softness" in its financial performance during the third quarter, the company's overall performance remains strong and the firm is confident it will achieve its full-year guidance, he said in a statement.
