AngioDynamics earnings rise in Q2

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AngioDynamics reported positive financial results for the second quarter of fiscal 2008, which ended Nov. 30, 2007.

For the second quarter net income increased to $3.1 million from $2.5 million in the same quarter last year.

The Queensbury, N.Y.-based company also reported net sales of $41.5 million, which it said is 70 percent higher than the $24.4 million reported for the second quarter of fiscal 2007. AngioDynamics attributed the growth in sales to sales from RITA Medical Systems, which was acquired on Jan. 29, 2007.

For the first half of fiscal year 2008, net sales were $79 million, 77 percent higher than net sales for the first half of 2007, which were $44.6 million, according to the company.

According to Eamonn Hobbs, president and CEO, said the company anticipates closing fiscal year 2008 with between $170 million and $175 million in revenue and operating income of between $20 million and $22 million.