EmailAngioDynamics (ANGO $13.80 -0.77) lowered fourth quarter revenue guidance to approx. $56.4 million versus the $59.3 million Capital IQ Consensus Estimate, down from its prior expectations of $57.5 million to $60.5 million.
For the fourth quarter, the company sees earnings of $0.10-0.11, excluding
charges, versus the $0.14 consensus. The company will record a one-time,
non-cash charge in the fourth quarter of $4.2 million, or $0.11 after-tax loss
per share, reflecting the Company's decision to discontinue the development of a
product using technology licensed in 2006 from Medron.
In fiscal year 2011, the company expects to see revenue of $216 million versus
the $219.2 million consensus.
The company also reported today that Jan Keltjens has resigned as President,
Chief Executive Officer and a member of the Board of Directors. A search for his
replacement is underway and includes a defined set of candidates. Mr. Keltjens
resignation is effective immediately, and Scott Solano, AngioDynamics' Senior
Vice President and Chief Technology Officer, will serve as the Company's interim
CEO until the appointment of a new CEO.
A search for his replacement is underway and includes a defined set of
candidates. Mr. Keltjens resignation is effective immediately, and Scott Solano,
AngioDynamics' Senior Vice President and Chief Technology Officer, will serve as
the Company's interim CEO until the appointment of a new CEO.
