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AngioDynamics Management Discusses Q4 2012 Results - Earnings Call Transcript

Moving forward, we intend to continue to cost effectively drive innovation to our growing number of customers of our Peripheral Vascular, Vascular Access and Interventional Oncology products. We will spend time during this call giving you clearer direction in these areas with unprecedented transparency, show you detail on what level of revenue we expect to accomplish in our key product segments, show you growth rates, which will build to our guidance and also share with you some of the structural makeup, which will help us better meet our customer's needs. So first, let's go through our fourth quarter accomplishments.

In Q4, we closed the acquisition of Navilyst Medical on time and commenced integration on schedule. We accelerated the momentum of our VenaCure EVLT business and exited 2012 with a 17% worldwide growth rate performing over 90,000 procedures during the fiscal year. That's a record for the company and at it leads to a full year revenue growth for EVLT of 14%.

NanoKnife recovered from our temporary stop in shipments to complete software upgrade, and achieved its first $4 million revenue the quarter with an excellent balance of sales between the U.S. and international.

As I mentioned on previous calls, for NanoKnife, calendar 2012 would all be about data. The Journal of American College of Surgery published 2 peer review studies highlighting safety of NanoKnife, near vital structures, as well as safety of NanoKnife in the pancreas. We next -- we expect more peer review publications to follow this year and into next year. We signed an exclusive distribution deal with Microsulis to enter the microwave ablation business, thus strengthening the global leadership for AngioDynamics in interventional oncology. We launched the Navilyst embarked microcatheter and Charter guidewire for use in embolic procedures, a key reentry to the embolic market for AngioDynamics.

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