(By Balachander) AngioDynamics Inc. (NASDAQ:ANGO) reported better-than-expected quarterly earnings, but the helped by diagnostic devices maker guided 2013 profit that trailed expectations. Shares retreated 6.24 percent in extended trading on Monday.
On a non-GAAP basis, earnings per share (EPS) increased 25 percent to 10 cents and also topped market expectations by a penny. The company, however, slipped to a net loss of 2 cents a share on a GAAP basis due to costs related to the purchase of Navilyst Medical.
Sales jumped 53 percent to $83.4 million, while Wall Street analysts' projected a growth of 55.0 percent for the first quarter.
Operating expenses surged nearly 32 percent.
Looking ahead for fiscal 2013 ending May, the company expects non-GAAP EPS in the range of $0.40 to $0.42 on sales between $361 million and $364 million. Analysts expect EPS of $0.50 on sales of $360 million.
In addition, AngioDynamics agreed to acquire privately-held Vortex Medical in a move to strengthens its peripheral vascular product portfolio. It expects the deal to reduce 2013 EPS by roughly $0.09 on a GAAP and non-GAAP basis.
The stock, which has been trading in the 52-week range of $10.34 to $16.39, ended at $12.82 on Monday.