AngioDynamics posts strong Q4

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Interventional device developer AngioDynamics reported robust results in revenue and income for its fiscal 2009 fourth quarter, which ended on May 31.

Net sales in the fourth quarter were $52.8 million, a 13 percent increase over the $46.8 million reported in the fourth quarter last year. The Queensbury, N.Y.-based company said its net income in the fourth quarter was $2.9 million, a strong uptick compared with the $519,000 posted for the same period in fiscal 2008.

For the 2009 fiscal year, the company booked net sales of $195.1 million, an increase of 17 percent over the $166.5 million reported for the prior year. However, net income showed a 10 percent decline to $9.9 million for the year, compared with the $10.9 million in net income recorded for fiscal 2008.

In fiscal 2009, AngioDynamics began operating three business units: Peripheral Vascular, Access and Oncology/Surgery. Peripheral Vascular sales were $22.5 million in the fourth quarter, an increase of 26 percent from the fourth quarter a year ago. Access sales were $17.9 million in the quarter, a decrease of 1 percent from the fourth quarter a year ago, and Oncology/Surgery sales grew 15 percent to $12.4 million from the fourth quarter a year ago.