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Earnings Highlights and Summary

For the fourth quarter ended May 31, 2018, AngioDynamics' revenues improved 1.6% to $88.3 million compared to $86.9 million in the fourth quarter of the fiscal year 2017. The Company's revenue numbers lagged analysts' estimates of $89.0 million. For FY18, the Company's revenues declined 1.5% to $344.3 million compared to $349.6 million in FY17.

For the reported quarter, AngioDynamics' gross profit surged 12.1% to $47.5 million compared to $42.3 million in the year ago same period. The Company's gross margin was 53.7% in Q4 FY18 compared to 48.7% in Q4 FY17. The Company posted a gross profit of $176.9 million in the year ended May 31, 2018, versus $176.2 million in the year ended May 31, 2017, marginally increasing 0.4% on a y-o-y basis.

AngioDynamics reported adjusted earnings before interest, tax, depreciation, amortization, and stock-based compensation (EBITDAS) of $15.6 million in the reported quarter compared to $14.3 million in the prior year's corresponding period. The Company posted adjusted EBITDAS of $57.0 million in FY18 compared to $58.7 million in FY17.

During Q4 FY18, AngioDynamics posted a net income of $2.1 million compared to a loss of $12.9 million in Q4 FY17. The Company's adjusted net income grew 12.8% $7.7 million in Q4 FY18 compared to $6.8 million in Q4 FY17. For FY18, the Company reported a net income of $16.3 million versus $5.0 million in FY17.

AngioDynamics' diluted earnings per share (EPS) were $0.06 in the reported quarter compared to a loss of $0.35 in the same period of the prior fiscal year. The Company's adjusted diluted EPS surged 5.3% to $0.20 in Q4 FY18 compared to $0.19 in Q4 FY17, missing analysts' estimates of $0.21.

Segment Details

AngioDynamics operates through three reporting segments; namely (i) Peripheral Vascular; (ii) Vascular Access; and (iii) Oncology/Surgery business.

During Q4 FY18, AngioDynamics' Peripheral Vascular segment generated total sales of $52.6 million compared to $53.9 million in Q4 FY17, decreasing 2.6% on a y-o-y basis.

AngioDynamics' Vascular Access segment's revenues dropped 2.5% to $23.6 million in the reported quarter compared to $24.2 million in the corresponding quarter of last year.

For Q4 FY18, AngioDynamics' Oncology/Surgery business revenues scaled 37.5% to $12.1 million compared to $8.8 million in Q4 FY17.

Cash Matters

As of May 31, 2018, AngioDynamics' cash and cash equivalents stood at $74.1 million compared to $47.5 million as of May 31, 2017. The Company had a long-term debt, net of current portion, of $86.6 million as of May 31, 2018, versus $91.3 million as of May 31, 2017. For the reported quarter, the Company generated a cash inflow from operating activities of $23.8 million versus $19.0 million in the year ago comparable period. For the fourth quarter of the fiscal year 2018, the Company had a free cash flow of $23.0 million.

Outlook

For the full fiscal year 2019, AngioDynamics expects net sales to be in the range of $344.0 million to $349.0 million, and free cash flow to be between $38.0 million and $43.0 million. The Company anticipates adjusted EPS to be in the band of $0.82 to $0.86 for FY19.

Stock Performance Snapshot

July 17, 2018 - At Tuesday's closing bell, AngioDynamics' stock advanced 1.20%, ending the trading session at $21.08.

Volume traded for the day: 313.22 thousand shares, which was above the 3-month average volume of 244.13 thousand shares.

Stock performance in the last three-month ? up 2.18%; previous six-month period ? up 28.07%; past twelve-month period ? up 29.96%; and year-to-date ? up 26.76%

After yesterday's close, AngioDynamics' market cap was at $782.53 million.

Price to Earnings (P/E) ratio was at 66.71.

The stock is part of the Healthcare sector, categorized under the Medical Instruments & Supplies industry. This sector was up 0.6% at the end of the session.

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