AngioDynamics Cuts 2009 Profit, Revenue Outlook

QUEENSBURY, N.Y. (AP) — Medical device maker AngioDynamics Inc. cut its fiscal 2009 profit and sales outlook Thursday following the release of its third-quarter results.

The company made a similar move following its second-quarter results, then citing the weakening economy.

AngioDynamics now expects profit between 42 cents and 45 cents per share on revenue between $195 million and $198 million in fiscal 2009. The expectations are lower than the prior forecast for profit between 45 cents and 50 cents per share on revenue between $198 million and $203 million.

The fiscal year ends in May.

Analysts surveyed by Thomson Reuters expect profit of 49 cents per share on revenue of $198.5 million.

AngioDynamics sells a mix of products, including catheters and diagnostic devices.

The stock gained 13 cents to reach $11.83 in after-hours trading after rising 77 cents, or 7 percent, to reach $11.70 during the regular trading session.