AngioDynamics shares drop after profit warning
This article was originally published in Clinica
Shares in vascular disease treatment specialist AngioDynamics plummeted on the Nasdaq Stock Exchange after the company lowered its sales targets for fiscal 2008. The company updated its revenue guidance from $170-175m to $165-167m to reflect the disappointing preliminary third-quarter results. It reported that its 10% growth in sales of its interventional product lines during the period was "less than expected". AngioDynamics also reported that while its SmartPort CT technology saw healthy sales, dialysis product sales were impacted by price competition.