This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Angeion Corporation Reports Improved Revenue And Operating Results For Fiscal 2011 First-Quarter (Quarter Ended January 31, 2011)

Angeion Corporation (NASDAQ: ANGN) today reported results for its fiscal first quarter ended January 31, 2011.

For the 2011 first quarter, Angeion reported revenues of $7.1 million, an increase of 6.6% compared to the prior-year first quarter. Angeion incurred a net loss of ($324,000), or ($0.09) per diluted share, an improvement over the prior-year first quarter net loss of ($826,000), or ($0.20) per diluted share. Excluding a $418,000 first quarter one-time charge related to the CEO transition and separation, Angeion would have realized a profit of $94,000, or $0.02 per diluted share.

Gross margin grew from 50.9% in the prior year quarter to 56.4% in the current quarter due to manufacturing efficiencies as a result of higher sales volume.

Operating expenses for sales and marketing increased $105,000, due to re-assignment of existing personnel from research and development and staff additions to support revenue growth opportunities. General and administrative expenses increased by $266,000 including the $418,000 non-recurring CEO transition expense, which was partially offset by $100,000 in reduced equity based compensation costs. Research and development expenses decreased $278,000 from fiscal 2010 first quarter levels due to personnel re-assignments and reclassification to sales and marketing as well as due to the impact of capitalization of our software-development projects that were expensed during 2010 as part of the product development cycle.

The first fiscal quarter revenues from international operations increased 2.3%, but decreased as a percentage of sales to 27.2%, down from 28.4% for the first fiscal quarter in 2010.

“I was particularly pleased with our first quarter performance following our very strong fiscal 2010 fourth quarter and given that historically, Angeion’s first quarter tends to be our lowest revenue quarter of the year” said Philip I. Smith, Angeion’s President and Chief Executive Officer. “We believe that a modest improvement in general market conditions contributed to our stronger first-quarter sales.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs