AngioDynamics' profit guidance lower than expected
Medical device maker AngioDynamics Inc. issued earnings guidance Thursday that is lower than Wall Street is expecting, but revenue guidance range was higher than analysts' average forecast.
AngioDynamics said it expects net income of 53 cents to 56 cents per share for the fiscal year, which ends in May 2011. Analysts surveyed by Thomson Reuters are currently looking for net income of 57 cents per share.
The company estimates revenue will total $230 million to $235 million for the year, equal to or more than the $230 million analysts had predicted.
AngioDynamics also said Thursday that its fiscal fourth-quarter net income jumped 29 percent from a year ago, to $3.7 million, or 15 cents per share. Revenue rose 14 percent to $60.3 million.
Its shares were little changed in aftermarket trading Thursday after closing the regular session up 12 cents at $15.44.