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AngioDynamics Inc. (NASDAQ: ANGO ) on Friday reported a wider loss for the third quarter as the medical device maker’s profit rose 9%. The company also provided guidance for fiscal 2023.
AngioDynamics reported an adjusted net loss of $0.03 per share for the third quarter, compared with earnings of $0.03 per share in the year-ago period. On an unadjusted basis, the net loss was $9.49 million or $0.24 per share, compared to a loss of $4.96 million or $0.13 per share in the third quarter of 2022.
Meanwhile, third-quarter revenue rose 9% year over year to $80.7 million. Management expects full-year revenue in the range of $338 million to $342 million.
“We continued to make strong progress during the quarter executing on our strategic plan. Auryon, AlphaVac, NanoKnife, and our Med Device portfolio were bright spots during the third quarter, and while we experienced softness in AngioVac, we have taken steps to address that performance, and remains an important driver of AngioDynamics’ growth,” said Jim Clemmer, CEO of AngioDynamics.
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