• Net sales of $83.4 million
• GAAP net loss of $0.02 per share; Adjusted (Non-GAAP) net income of $0.10 per share, a YOY 25% increase
• Integration of Navilyst Medical yielding significant cost savings
• Vortex Medical acquisition to strengthen peripheral vascular portfolio

ALBANY, N.Y., Oct. 8, 2012 (GLOBE NEWSWIRE) -- AngioDynamics (Nasdaq:ANGO), a leading provider of innovative, minimally invasive medical devices for vascular access, surgery, peripheral vascular disease and oncology, today reported financial results for the fiscal 2013 first quarter ended August 31, 2012. Financial results include Navilyst Medical in the fiscal 2013 first quarter.

Net sales for the first quarter were $83.4 million, a 53% increase over the $54.4 million reported a year ago. Compared to prior year first quarter pro forma net sales, which include Navilyst Medical and exclude LC Beads sales, total Company net sales decreased 1%; U.S. net sales decreased 4%; international net sales increased 16% (18% on a constant currency basis); Vascular net sales decreased 2%; and Oncology/Surgery net sales increased 15%. Net sales by product line are presented on a pro forma basis in a table at the end of this press release.

The Company reported a first quarter net loss of $721,000, or $0.02 per share, compared to net income of $1.4 million, or $0.05 per share, a year ago. First quarter results include costs relating to the Navilyst Medical acquisition, the subsequent restructuring of the Company and the Quality Call to Action Program. Excluding the aforementioned costs, which are set forth in the attached reconciliation table, adjusted (Non-GAAP) net income was $3.6 million, or $0.10 per share, compared to $2.0 million, or $0.08 per share, a year ago. Diluted average shares outstanding increased to 34.7 million in the first quarter from 25.2 million in the prior year period due to the additional shares issued in conjunction with the Navilyst Medical acquisition.

The Company reported first quarter EBITDA of $6.6 million, or $0.19 per share, compared to $5.8 million, or $0.23 per share, a year ago. Adjusted EBITDA, computed with the adjustments to GAAP reporting set forth in the attached reconciliation table, was $13.2 million, or $0.38 per share, in the first quarter compared to $6.8 million, or $0.27 per share, a year ago.

"We achieved our sales guidance and delivered solid operating results especially in the area of cost management," said Joseph DeVivo, President and CEO of AngioDynamics. "With the successful ongoing integration of Navilyst and AngioDynamics, the recent U.S. FDA 510(k) clearance of our first BioFlo product and other planned initiatives, we are well positioned to achieve our growth objectives for this fiscal year and beyond."

At August 31, 2012, cash, escrow receivable and investments were $33.0 million, and long-term debt was $149.6 million.

Highlights of the reporting and subsequent period include:

• The Company received U.S. Food and Drug Administration 510(K) clearance for BioFlo peripherally inserted catheters (PICCs) with Endexo technology. Designed to reduce the accumulation of catheter-related thrombus on, and in the catheter, these are the first vascular access products from AngioDynamics to offer BioFlo technology in the U.S. market.
   
• Total Oncology/Surgery pro forma sales growth of 15% excluding LCBeads, driven by NanoKnife System sales of $3 million, a 31% increase over last year's first quarter, and thermal ablation sales growth of 14% compared with the year ago period, driven by strong international sales of Microwave ablation products.
   
• International pro forma sales growth of 18% on a constant currency basis led by strong sales in Canada reflecting the establishment of a direct sales operation, being awarded a major GPO contract and initial sales of BioFlo PICCs, in addition to the sale of Microwave ablation products.
   
• HealthTrust Purchasing Group (HealthTrust), a group purchasing organization representing more than 1,400 not-for-profit and for-profit acute care facilities, as well as 10,600 ambulatory surgery centers, physician practices and alternate care sites, awarded the Company a contract covering chronic and acute dialysis catheters. The contract became effective Oct. 1, 2012, and is the first vascular access contract for AngioDynamics with HealthTrust.
   
• The U.S. District Court for the Northern District of New York entered partial judgment on the Company's legal case against biolitec, awarding AngioDynamics$16.5 million in damages.
   
• AngioDynamics has strengthened its senior leadership team with the addition of two proven and experienced medical device executives. Louis J. Mazzarese has joined the Company as Senior Vice President and Chief Regulatory Officer and John Soto has been named Senior Vice President, Global Franchise, Peripheral Vascular, both reporting to Joseph DeVivo, President and CEO.

Vortex Medical Acquisition

In a separate release issued today, AngioDynamics announced an agreement to acquire Vortex Medical, a privately-held company focused on the development of innovative medical devices for the removal of thrombus, or blood clots, from occluded blood vessels. Vortex has developed and is currently commercializing the AngioVac Cannula and Circuit to facilitate venous drainage during extracorporeal bypass procedures. The AngioVac Cannula's proprietary design facilitates en bloc removal of undesirable intravascular material. The AngioVac Cannula and Circuit are 510(k) cleared and an application has been filed for CE Mark approval. This acquisition will advance AngioDynamics' venous disease strategy and is consistent with its focus on innovative products that offer the potential for sustainable, profitable growth. In fiscal 2014, the acquisition is expected to add approximately $10 million of sales and be accretive to GAAP net income and EPS. The impact on fiscal 2013 financial results is indicated below.

Fiscal 2013 Guidance

The Company expects to close the acquisition of Vortex Medical by the end of October. In fiscal year 2013, the acquisition is expected to add approximately $1 million in sales, reduce operating income by approximately $5 million, have negligible impact on EBITDA, and reduce EPS by approximately $0.09 on a GAAP and Non-GAAP basis.

"Our goal remains to exit the fiscal year positioned to generate double-digit top- and bottom-line growth over the long term," added Mr. DeVivo.

Conference Call

AngioDynamics will host a conference call today with accompanying slides at 4:30 p.m. Eastern Time to discuss its first quarter results. To participate in the call, please dial (877) 941-9205. In addition, a live webcast and archived replay of the call will be available at http://investors.angiodynamics.com. To access the live webcast, please go to the Web site 15 minutes prior to its start to register, download and install the necessary software.

Use of Non-GAAP Measures

Management uses non-GAAP measures to establish operational goals, and believes that non-GAAP measures may assist investors in analyzing the underlying trends in AngioDynamics' business over time. Investors should consider these non-GAAP measures in addition to, not as a substitute for or as superior to, financial reporting measures prepared in accordance with GAAP. In this news release, AngioDynamics has reported pro forma sales growth, sales on a constant currency basis, non-GAAP gross margin, non-GAAP operating income, EBITDA (income before interest, taxes, depreciation and amortization), adjusted EBITDA, non-GAAP net income and non-GAAP earnings per share. Management uses these measures in its internal analysis and review of operational performance. Management believes that these measures provide investors with useful information in comparing AngioDynamics' performance over different periods. By using these non-GAAP measures, management believes that investors get a better picture of the performance of AngioDynamics' underlying business. Management encourages investors to review AngioDynamics' financial results prepared in accordance with GAAP to understand AngioDynamics' performance taking into account all relevant factors, including those that may only occur from time to time but have a material impact on AngioDynamics' financial results. Please see the tables that follow for a reconciliation of non-GAAP measures to measures prepared in accordance with GAAP.

About AngioDynamics

AngioDynamics, Inc. is a leading provider of innovative, minimally invasive medical devices used by professional healthcare providers for vascular access, surgery, peripheral vascular disease and oncology. AngioDynamics' diverse product lines include market-leading ablation systems, fluid management systems, vascular access products, angiographic products and accessories, angioplasty products, drainage products, thrombolytic products and venous products. More information is available at www.AngioDynamics.com.

Trademarks

AngioDynamics, the AngioDynamics logo, Navilyst Medical, BioFlo and NanoKnife are trademarks and/or registered trademarks of AngioDynamics Inc., an affiliate or a subsidiary. Endexo is a trademark of Interface Biologics.

Safe Harbor

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements regarding AngioDynamics' expected future financial position, results of operations, cash flows, business strategy, budgets, projected costs, capital expenditures, products, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include the words such as "expects," "reaffirms," "intends," "anticipates," "plans," "believes," "seeks," "estimates," "optimistic," or variations of such words and similar expressions, are forward-looking statements. These forward looking statements are not guarantees of future performance and are subject to risks and uncertainties. Investors are cautioned that actual events or results may differ from AngioDynamics' expectations. Factors that may affect the actual results achieved by AngioDynamics include, without limitation, the ability of AngioDynamics to develop its existing and new products, technological advances and patents attained by competitors, future actions by the FDA or other regulatory agencies, domestic and foreign health care reforms and government regulations, results of pending or future clinical trials, overall economic conditions, the results of on-going litigation, the effects of economic, credit and capital market conditions, general market conditions, market acceptance, foreign currency exchange rate fluctuations, the effects on pricing from group purchasing organizations and competition, the ability of AngioDynamics to integrate purchased businesses, including Navilyst Medical and its products, R&D capabilities, infrastructure and employees as well as the risk factors listed from time to time in AngioDynamics'SEC filings, including but not limited to its Annual Report on Form 10-K for the year ended May 31, 2012. AngioDynamics does not assume any obligation to publicly update or revise any forward-looking statements for any reason.

CONTACT: Company Contact:

         AngioDynamics, Inc.D. Joseph Gersuk, CFO

         (800) 772-6446 x1608

         jgersuk@AngioDynamics.com



         Investor Relations Contacts:

         EVC Group, Inc.Jamar Ismail/Robert Jones

         (415) 568-9348; (646) 201-5447

         jismail@evcgroup.com; bjones@evcgroup.com



         Media Contact:

         EVC Group, Inc.Chris Gale

         (646) 201-5431

         cgale@evcgroup.com

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