While reporting financial results for the second quarter on Tuesday, medical devices company AngioDynamics, Inc. (ANGO) maintained its adjusted loss guidance for the full year 2026, while raising annual net sales outlook.
For fiscal 2026, the company continues to project adjusted loss in the range of $0.33 to $0.23 per share, raised its net sales guidance to between $312 million and $314 million from the prior forecast between $308 million and $313 million.
On average, four analysts polled by Thomson Reuters expect the company to report a loss of $0.33 per share on net sales of $310.27 million for the year. Analysts' estimates typically exclude special items.
For the second quarter, the company reported a net loss of $6.35 million or $0.15 per share, wider than $10.74 million or $0.26 per share in the prior-year quarter.
Excluding item, adjusted earnings for the quarter was $0.00 per share, compared to adjusted loss of $0.04 per share in the year-ago quarter.
Net sales for the quarter increased to $79.43 million from $72.85 million in the same quarter last year.
The Street was looking for a loss of $0.10 per share on net sales of $76.43 million for the quarter.
The company also announced that Jim Clemmer has informed the Board of Directors of his intention to retire as President and CEO upon the appointment of a successor, which is anticipated to occur during fiscal 2027.
The Board has established a search committee to conduct a comprehensive search, which will be assisted by a leading executive search firm, to identify the Company's next CEO.
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