AngioDynamics (NASDAQ:ANGO), a leading provider of innovative, minimally invasive medical devices for vascular access, surgery, peripheral vascular disease and oncology, today reported first quarter financial results for the 2017 fiscal quarter ended August 31, 2016.
“I’m pleased with our first quarter performance, which lays the foundation for continued positive momentum in fiscal 2017,” said Jim Clemmer, President and Chief Executive Officer of AngioDynamics. “These results were primarily driven by growth in the Peripheral Vascular franchise as a result of opportunities created by the Cook Medical recall. Looking across the business, we also delivered a solid performance in BioFlo Midline and Dialysis in the Vascular Access franchise, and growth for NanoKnife and Microwave in Oncology/Surgery. As we move through fiscal 2017, we remain committed to executing on our long-term strategy of pursuing initiatives where we have a clear competitive advantage, focusing on driving operational efficiency and developing products that improve patient outcomes and lessen the burden on the provider and healthcare system.”
First Quarter 2017 Financial Results
Net sales for the fiscal first quarter were $88.1 million, an increase of 5% compared with $83.8 million a year ago. Currency did not have an impact in the quarter.
The following comparisons exclude the Boston Scientific supply agreement.
Peripheral Vascular net sales in the first quarter were $51.4 million compared to $47.1 million in the fiscal year 2016 first quarter. Vascular Access net sales in the first quarter were $25.0 million compared to $24.6 million a year ago. Oncology/Surgery net sales in the first quarter were $11.1
