AngioDynamics is pondering moving its laser operations in the U.K. to Queensbury, company executives said during a recent conference call on its quarterly and year-end results.
"A final decision on this transfer has not been made," said CFO D. Joseph Gersuk, as quoted by the Albany Times Union. Back in 2008, the company bought the assets of Diomed that made lasers for the treatment of varicose veins. And as part of the deal, AngioDynamics also obtained the company's operation in Cambridge, England.
The move may end up costing AngioDynamics $1.6 million, but the devicemaker didn't provide a breakdown of the possible costs.
AngioDynamics also detailed some of its latest financials last week. Net sales were $56.4 million in the Q4 compared with $60.3 million a year ago, according to a company release. And for the fiscal year that ended May 31, net sales were $216 million, roughly the same as in fiscal 2010. Vascular sales were $149.7 million, a 6% decline from the prior year. However, oncology/surgery sales increased 16% to $66.2 million from the previous year, and included $7.3 million in NanoKnife System sales versus $2.5 million in 2010.
The recent quarter also saw the resignation of CEO Jan Keltjens, who joined the company a little more than two years ago after serving as president and CEO of Montreal-based CryoCath Technologies. He had succeeded Eamonn Hobbs, who helped make AngioDynamics into a $200 million company.
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