AngioDynamics posts solid Q4 & FY10 growth

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AngioDynamics, a developer of medical devices for minimally-invasive treatment of cancer and peripheral vascular disease, has reported financial results for the fiscal fourth quarter and year, which ended May 31.

Net sales in the 2010 fourth quarter were $60.3 million, a 14 percent increase over the $52.8 million reported for the fourth quarter last year, said the Albany, N.Y.-based company. Net income was $3.7 million compared with the prior year’s fourth quarter of $2.9 million.

For the 2010 fiscal year, net sales were $216 million, an 11 percent increase over the $195.1 million reported in fiscal 2009; and net income was $12.3 million, compared with the prior year’s $9.9 million, according to AngioDynamics.

The company attributed its positive returns to its oncology/surgery, NanoKnife IRE system and varicose vein product sales.