Early Stocks in Motion

AngioDynamics(ANGO Quote) after the bell Monday reported net income of $1.7 million, or 13 cents a share, for the second quarter ended Nov. 26, up from $1 million, or 9 cents a share, a year earlier. Revenue rose 30% to $18.7 million from $14.4 million. The medical-device provider attributed the revenue rise to strong demand for its newest products and increases in unit sales. Analysts polled by Thomson First Call expected earnings of 12 cents a share and revenue of $18.1 million. AngioDynamics also reiterated its guidance for fiscal 2006.

The company also said it is in talks with one of its suppliers regarding indemnification on certain patent infringement lawsuits. Biolitec, AngioDynamics' laser-technology supplier, told the company it isn't required to indemnify AngioDynamics with respect to two lawsuits. AngioDynamics said it is in discussions with Biolitec's management to avoid breach-of-contract and legal action. The stock fell $1.18, or 4.9%, to $23.06 in after-hours trading.

Connetics(CNCT Quote) cut its fourth-quarter guidance but provided a revenue outlook for 2006 that met Wall Street expectations. For the fourth quarter, the specialty pharmaceutical company expects to earn 37 to 40 cents a share, including a gain of 27 cents to 30 cents related to a tax asset. The company's previous forecast called for earnings of 24 cents to 26 cents a share.

Connetics lowered its fourth-quarter revenue projection to $41 million to $42 million from its original prediction of $47 million to $49 million. Analysts, on average, predicted fourth-quarter earnings of 25 cents a share and revenue of $49 million. Connetics attributed the lowered forecast to the potential threat of a generic version of Soriatane, its psoriasis drug.

For 2006, Connetics expects revenue of $215 million to $218 million, which would be at or above analysts' target of $215 million. The company sees earnings of 86 cents to 88 cents a share, excluding the effect of stock options. Analysts predict earnings of 94 cents a share, before items. Shares of Connetics were down 93 cents, or 6.4%, to $13.53 in after-hours trading.