AngioDynamics Inc. (NASDAQ:ANGO) Q2 2020 Earnings Conference Call - Final Transcript

Jan 07, 2020 • 08:00 am ET

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AngioDynamics Inc. (NASDAQ:ANGO) Q2 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good morning, and welcome to the AngioDynamics Fiscal Year 2020 Second Quarter Earnings Call. At this time, all participants are in a listen-only mode. And a brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

The news release detailing the fiscal 2020 second quarter results crossed the wire earlier this morning and is available on the company's website. This conference call is also being broadcast live over the Internet at the Investors section of the company's website at www.angiodynamics.com, and the webcast replay of the call will be available at the same site approximately one hour after the end of today's call.

Before we begin, I would like to caution listeners that during the course of this conference call, the company will make projections or forward-looking statements regarding future events, including statements about expected revenue, adjusted earnings and gross margins for fiscal year 2020. Management encourages you to review the Company's past and future filings with the SEC, including without limitation, the Company's Forms 10-Q and 10-K, which identify specific factors that may cause the actual results or events to differ materially from those described in the forward-looking statements.

A slide package offering insight into the Company's financial results is also available on the Investors section of the Company's website under Events and Presentations. This presentation should be read in conjunction with the press release discussing the Company's operating results and financial performance during this morning's conference call.

I would now like to turn the call over to Jim Clemmer, AngioDynamics' President and Chief Executive Officer. Mr. Clemmer?

Executive
Jim Clemmer

Thank you, Rob, and good morning everyone, and thank you for joining us for AngioDynamics' fiscal 2020 second quarter earnings call. Joining me on today's call is Steve Trowbridge, AngioDynamics' General Counsel and Interim Chief Financial Officer, who will provide a detailed analysis of our second quarter financial performance.

But first I'd like to begin by providing an overview of our operational and execution highlights for the quarter. We achieved strong margin expansion and profitability during the quarter, driven by ex-Asclera sales growth that continues to trend in the right direction. I am pleased with our continued transition from a company with a broad portfolio of undifferentiated products to a much more focused medical technology company that delivers unique and innovative healthcare solutions. The new profile of our company is enabling us to move away from the mature lower growth markets where we have competed in the past by carving out significant space in larger and faster growing markets.

We will continue to develop our foundational technologies such as NanoKnife, AngioVac and our recently acquired Eximo, Atherectomy Laser to drive this transformation. We will also further accentuate our existing portfolio strengths by acquiring or developing technology to support these products as evidenced by the acquisition of the C3 Wave tip location device announced this morning. We remain focused on three drivers to continue our transformation; internal research and development, M&A and clinical and regulatory