UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
__________
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date
of Report (Date of earliest event reported): March 6, 2008
AngioDynamics,
Inc.
(Exact
Name of Registrant as Specified in Charter)
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Delaware
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000-50761
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11-3146460
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(State
or Other Jurisdiction of Incorporation)
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(Commission
File
Number)
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(IRS
Employer
Identification
No.)
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603
Queensbury Avenue, Queensbury, New
York 12804
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(Address
of Principal Executive
Offices) (Zip
Code)
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(518)
798-1215
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(Registrant’s
telephone number, including area
code)
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Check the appropriate box
below if the Form 8-K filing is intended to simultaneously satisfy the filing
obligation of the registrant under any of the following provisions:
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o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
|
o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2 (b))
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4 (c))
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Item
7.01 – Regulation FD Disclosure.
On March 6, 2008, the Company issued a
press release, a copy of which is attached as Exhibit 99.1, announcing its
preliminary net sales for its fiscal third quarter ended February 29, 2008 and
revised its previously disclosed guidance with respect to expected fourth fiscal
quarter and full year fiscal 2008 sales. The Company expects to
release financial results for the fiscal third quarter after the close of the
financial markets on April 2, 2008 and will host a conference call in the same
afternoon.
Forward-Looking
Statements
This document and its attachments
include "forward-looking statements" intended to qualify for the safe harbor
from liability established by the Private Securities Litigation Reform Act of
1995. Investors can identify these statements by the fact that they do not
relate strictly to historical or current facts. These statements contain words
such as "expect," "reaffirm," "anticipate," "plan," "believe," "estimate,"
"may," "will," "predict," "project," "might," "intend," "potential," "could,"
"would," "should," "estimate," "seek," "continue," "pursue," or "our future
success depends," or the negative or other variations thereof or comparable
terminology, are intended to identify such forward-looking statements. In
particular, they include statements relating to, among other things, future
actions, strategies, future performance, future financial results of the
Company. These forward-looking statements are based on current expectations and
projections about future events.
Investors are cautioned that
forward-looking statements are not guarantees of future performance or results
and involve risks and uncertainties that cannot be predicted or quantified and,
consequently, the actual performance or results of the Company may differ
materially from those expressed or implied by such forward-looking statements.
Such risks and uncertainties include, but are not limited to, the factors
described from time to time in the Company's reports filed with the SEC,
including the Company's Form 10-K for the fiscal year ended June 2, 2007 and
Form 10-Q for the period ended November 30, 2007, financial community and rating
agency perceptions of the Company; the effects of economic, credit and capital
market conditions on the economy in general, and on medical device companies in
particular; domestic and foreign health care reforms and governmental laws and
regulations; third-party relations and approvals, technological advances and
patents attained by competitors; and challenges inherent in new product
development, including obtaining regulatory approvals. In addition to the
matters described above, the ability of the Company to develop its products,
future actions by the FDA or other regulatory agencies, results of pending or
future clinical trials, overall economic conditions, general market conditions,
market acceptance, foreign currency exchange rate fluctuations, and the effects
on pricing from group purchasing organizations and competition, may affect the
actual results achieved by the Company.
Any forward-looking statements are made
pursuant to the Private Securities Litigation Reform Act of 1995 and, as such,
speak only as of the date made. Investors are cautioned not to place
undue reliance on these forward-looking statements which speak only as of the
date stated, or if no date is stated, as of the date of this
document. The Company does not assume any obligation to publicly
update or revise any forward-looking statements at any time for any
reason.
Item
9.01 – Financial Statements and Exhibits.
(d) Exhibits.
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Exhibit No.
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Description
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99.1
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Press
Release dated March 6, 2008.
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SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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ANGIODYNAMICS,
INC.
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||||
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(Registrant)
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||||
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Date: March
6, 2008
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By:
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/s/
Joseph Gersuk
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Joseph
Gersuk
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||||
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Chief
Financial Officer
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EXHIBIT
INDEX
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Exhibit No.
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Description
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99.1
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Press
Release dated March 6, 2008.
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Exhibit
99.1
FOR
IMMEDIATE RELEASE
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Company
Contact:
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Investor
Relations Contacts:
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Media
Contact:
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AngioDynamics,
Inc.
D.
Joseph Gersuk, CFO
(800)
772-6446 x1608
jgersuk@AngioDynamics.com
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EVC Group,
Inc.
Doug
Sherk / Julie Huang
(415)
896-6820
dsherk@evcgroup.com
jhuang@evcgroup.com
|
EVC Group,
Inc.
Steve
DiMattia
(646)
201-5445
sdimattia@evcgroup.com
|
AngioDynamics
Provides Preliminary Third Quarter Sales Results
Updates
Fiscal 2008 Sales Guidance
QUEENSBURY, N.Y. March 6, 2008—AngioDynamics (NASDAQ:
ANGO), a leading
provider of innovative medical devices used by interventional radiologists,
nephrologists, and surgeons for the minimally invasive treatment of cancer and
peripheral vascular disease, announced today that it expects fiscal third
quarter 2008 net sales to grow approximately 14% from the year ago period to
approximately $40.7 million. The fiscal third quarter sales increase
would represent the largest quarterly year over year sales increase in fiscal
2008.
“While
our oncology product line generated substantial growth of 26% during the fiscal
third quarter, the 10% growth rate in sales of our interventional product lines
was less than expected,” said Eamonn Hobbs, President & CEO. “We
saw continued healthy sales of our Smart Port™ CT product while our dialysis
product sales continued to be impacted by considerable price
competition. We believe that the best way to address this market
dynamic is to introduce new and innovative products that compete on features and
performance rather than price. We recently launched the Centros™
central venous catheter for hemodialysis and expect to begin selling the product
by the end of our fiscal fourth quarter,” concluded Mr. Hobbs.
For
the fiscal fourth quarter ending May 31, 2008, AngioDynamics expects net sales
to be in the range of $45 million to $47 million. Sales for the
fourth quarter of fiscal 2007 were $40.9 million. Full fiscal year
sales are expected to be in the range of $165 million to $167 million, as
compared to the previously stated range of $170 million to $175
million. The above sales estimates for the fiscal fourth quarter are
preliminary and may vary materially based on various factors, including timing
of new products and changes in management’s assumptions and
projections.
The
Company plans to release financial results for the fiscal third quarter after
the close of the financial markets on April 2, 2008 and will host an
investment community conference call the same day.
About
AngioDynamics
AngioDynamics,
Inc. is a leading provider of innovative medical devices used by interventional
radiologists, surgeons, and other physicians for the minimally invasive
treatment of cancer and peripheral vascular disease. The Company's diverse
product line includes market-leading radiofrequency ablation systems, vascular
access products, angiographic products and accessories, dialysis products,
angioplasty products, drainage products, thrombolytic products, embolization
products and venous products. More information is available at
www.angiodynamics.com.
Safe
Harbor
The
statements made in this document contain certain forward-looking statements that
involve a number of risks and uncertainties. Words such as "expects," "intends,"
"anticipates," "plans," "believes," "seeks," "estimates," or variations of such
words and similar expressions, are intended to identify such forward-looking
statements. Investors are cautioned that actual events or results may differ
from the Company's expectations. In addition to the matters described above, the
ability of the Company to develop its products, future actions by the FDA or
other regulatory agencies, results of pending or future clinical trials, overall
economic conditions, general market conditions, market acceptance, foreign
currency exchange rate fluctuations, the effects on pricing from group
purchasing organizations and competition, as well as the risk factors listed
from time to time in the SEC filings of AngioDynamics, Inc., including but not
limited to its Annual Report on Form 10-K for the year ended June 2, 2007, may
affect the actual results achieved by the Company. The Company does
not assume any obligation to publicly update or revise any forward-looking
statements for any reason.
###