Sustaining Financial Strength 4459

This year's featured leaders illustrate medtech's ability to adapt and thrive in an ever-changing business environment.

Steve Halasey

May 1, 2008

1 Min Read
Sustaining Financial Strength

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The financial strength of AngioDynamics Inc. (Queensbury, NY) is evident in the company's 26 consecutive quarters of demonstrated profitability. For full-year 2007, the company's net sales reached a record $112 million, up 43% over fiscal 2006. Gross profits in 2007 were $66 million, or 59% of net sales. Such figures marked solid gains over 2006, when the company reported gross profits of $46 million, or 58% of net sales.

(click to enlarge)Share price for AngioDynamics Inc. (Queensbury, NY) from May 2007 through May 2008.

In its most recent quarterly report, AngioDynamics announced significant improvement in its gross profit margins, while maintaining healthy operating income and generating nearly $10 million in operating cash flow. Due to pricing pressure and declines among its legacy products, the company lowered its financial guidance for the full fiscal year of 2008. Although AngioDynamics' stock price took a large hit after the announcement, it quickly rebounded during the ensuing weeks as the company demonstrated that it is well poised to counterbalance market pressures going forward.

The company recently introduced its Smart Port CT and Profiler angioplasty catheters, both of which are reportedly making significant market inroads. The company also recently launched a new hemodialysis catheter called Centros, which is a central component of AngioDynamics' plan to continue to effectively compete in the dialysis market.

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