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Angiodynamics Inc (ANGO) SEC Filing 10-Q Quarterly report for the period ending Saturday, August 31, 2019

Angiodynamics Inc

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CIK: 1275187 Ticker: ANGO
Exhibit 99.1




PRESS RELEASE
Investor Contact:

AngioDynamics, Inc.
Michael C. Greiner, Executive Vice President & CFO
(518) 795-1821
AngioDynamics Reports Fiscal 2020 First Quarter Financial Results
Fiscal 2020 First Quarter Highlights
•
Net sales of $66.0 million, an increase of 3.3% year over year
•
Gross margin increased 170 basis points year over year to 57.9%
•
GAAP loss per share of $0.03; adjusted earnings per share of $0.08

Latham, New York, October 3, 2019 
– AngioDynamics, Inc. (NASDAQ: ANGO), a leading provider of innovative, minimally invasive medical devices for vascular access, peripheral vascular disease, and oncology, today announced financial results for the first quarter of fiscal year 2020, which ended August 31, 2019.

“Our top-line and gross-margin performance in the quarter was in line with our expectations,” commented Jim Clemmer, President and Chief Executive Officer of AngioDynamics, Inc. “We continue to build momentum and remain focused on driving growth by creating a suite of disruptive and differentiated technology. The divestiture of the NAMIC Fluid Management business allowed us to begin the year with a strong balance sheet, enabling strategic acquisitions like Eximo Medical, Ltd., which we announced this morning. Additionally, we continue to make steady progress with site initiation in our NanoKnife DIRECT study for pancreatic cancer.”

First Quarter 2020 Financial Results
 
Net sales for the first quarter of fiscal 2020 were $66.0 million, an increase of 3.3%, compared to $63.9 million a year ago and representing a decline of 1.0% organically. Excluding the impact of Asclera, sales of which were discontinued during fiscal year 2019, net sales grew 5.6% year over year and grew 1.3% organically. Foreign currency translation did not have a significant impact on the Company’s sales in the quarter.


The following information was filed by Angiodynamics Inc (ANGO) on Thursday, October 3, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Angiodynamics Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Loss
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity
Accrued Liabilities
Accrued Liabilities (Tables)
Accrued Liabilities - Summary Of Accrued Liabilities (Detail)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) (Tables)
Accumulated Other Comprehensive Income (Loss) - Schedule (Detail)
Acquisition, Restructuring And Other Items, Net
Acquisition, Restructuring And Other Items, Net (Tables)
Acquisition, Restructuring And Other Items, Net - Narrative (Detail)
Acquisition, Restructuring And Other Items, Net - Summary (Detail)
Acquisitions
Acquisitions (Details)
Acquisitions (Tables)
Acquisitions - Narrative (Details)
Commitments And Contingencies
Commitments And Coontingencies - Additional Information (Detail)
Consolidated Financial Statements
Divestitures (Details)
Divestitures (Tables)
Divestitures - Results Of Discontinued Operations (Details)
Divestitures Divestitures
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Reconciliation Of Basic To Diluted Weighted-Average Shares Outstanding (Detail)
Fair Value
Fair Value (Tables)
Fair Value - Additional Information (Detail)
Fair Value - Fair Value Measurements Using Significant Unobservable Inputs (Detail)
Fair Value - Fair Value Of Assets And Liabilities Measured On A Recurring Basis (Detail)
Fair Value - Summary Showing The Recurring Fair Value Measurements Of The Contingent Consideration Liability (Detail)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Expected Future Amortization Expense (Detail)
Goodwill And Intangible Assets - Intangible Assets (Detail)
Goodwill And Intangible Assets - Narrative (Detail)
Income Taxes
Income Taxes - Additional Information (Detail)
Inventories
Inventories (Tables)
Inventories - Narrative (Detail)
Inventories - Schedule Of Inventories (Detail)
Leases (Details)
Leases (Tables)
Leases - Liability Maturity Schedule (Details)
Leases - Non-Cancelable Payments Schedule (Details)
Leases - Supplemental Balance Sheet Information (Details)
Leases - Supplemental Cash Flow Information (Details)
Leases Leases
Long Term Debt
Long Term Debt - Narrative (Detail)
Recently Issued Accounting Pronouncements
Recently Issued Accounting Pronouncements (Policies)
Recently Issued Accounting Pronouncements (Tables)
Revenue From Contracts With Customers
Revenue From Contracts With Customers (Tables)
Revenue From Contracts With Customers - Contract Balances With Customers (Details)
Revenue From Contracts With Customers - Disaggregation Of Revenue (Details)
Revenue From Contracts With Customers - Narrative (Details)
Segment And Geographic Information
Segment And Geographic Information (Tables)
Segment And Geographic Information - Summary Of Net Sales By Geographic Area (Detail)
Segment And Geographic Information - Summary Of Net Sales By Product Category (Detail)
Share-Based Compensation
Share-Based Compensation - Narrative (Detail)
Subsequent Events
Subsequent Events (Details)
Ticker: ANGO
CIK: 1275187
Form Type: 10-Q Quarterly Report
Accession Number: 0001275187-19-000026
Submitted to the SEC: Fri Oct 04 2019 11:37:51 AM EST
Accepted by the SEC: Fri Oct 04 2019
Period: Saturday, August 31, 2019
Industry: Surgical And Medical Instruments And Apparatus

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