Analogic Board of Directors Authorizes Stock Repurchase Program.PEABODY, Mass. -- Analogic Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ALOG ALOG Army Logistician (Magazine) ALOG Army Logistics ALOG Activity Log ALOG AWIS Logistics ), a leading designer and manufacturer of high-precision health and security imaging equipment, announced today that its Board of Directors has authorized the repurchase of up to $25,000,000 of the Company's common stock. These repurchases are expected to be made during the next twelve months through brokers and dealers in the public market or in privately negotiated transactions. John Wood, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , said, "This repurchase program reflects our ongoing commitment to improving the investment value of our stock while at the same time profitably growing our business. Even with the completion of this stock buy-back, we will still have sufficient cash available to continue our strategy of identifying and acquiring businesses that complement our existing health and security imaging businesses." The repurchase program will be funded using the Company's working capital. Analogic had approximately 13,725,000 shares of common stock outstanding as of April 30, 2005. Analogic Corporation is a leading designer and manufacturer of advanced health and security systems and subsystems sold primarily to Original Equipment Manufacturers (OEMs). The Company is recognized worldwide for advancing the state of the art in Computed Tomography Computed tomography (CT scan) X rays are aimed at slices of the body (by rotating equipment) and results are assembled with a computer to give a three-dimensional picture of a structure. (CT), Digital Radiography digital radiography Imaging A format for producing x-rays in which film used to produce conventional x-ray images is replaced with more sensitive sensitive electronics; DXRs produce images with1⁄2 (DR), Ultrasound, Magnetic Resonance Imaging magnetic resonance imaging (MRI), noninvasive diagnostic technique that uses nuclear magnetic resonance to produce cross-sectional images of organs and other internal body structures. (MRI 1. (application) MRI - Magnetic Resonance Imaging. 2. MRI - Measurement Requirements and Interface. ), Patient Monitoring, Cardiovascular Information Management, and Embedded Multiprocessing. Statements in this press release regarding the Company's intention to repurchase shares of its common stock under the stock repurchase program, the intended use of any repurchased shares, and the source of funding are forward-looking statements. There are a number of important factors that could cause actual events to differ materially from those suggested or indicated by such forward-looking statements. These include, among others, the market price of the Company's stock prevailing from time-to-time, the Company's cash flows from operations, general economic conditions, and other factors identified in the Company's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the SEC. |
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