AngioDynamics Shares Fall On Quarterly Results, Outlook

AngioDynamics Inc. shares fell in the extended session Thursday after the medical-device maker missed Wall Street estimates for the quarter and trimmed its outlook. AngioDynamics shares dropped 8.4% to $16.71 on moderate volume. The company reported adjusted fiscal third-quarter earnings of 12 cents a share on revenue of $86.6 million. Analysts surveyed by FactSet had estimated 16 cents a share on revenue of $89.4 million. The discontinuation of the company's Morpheus PICC catheter product line and currency exchange rates prompted AngioDynamics to trim its outlook. The company sees adjusted fourth-quarter earnings of 13 cents to 16 cents a share on revenue of $90 million to $94 million, and 57 cents to 60 cents on revenue of $356 million to $360 million for the year. Analysts had forecast 19 cents a share on revenue of $96.9 million for the fourth quarter, and 68 cents a share on revenue of $365.7 million for the year.