Analogic Corp. Announces Revenues and Earnings for its Second Quarter.PEABODY Peabody (pē`bədē, –bädē), city (1990 pop. 47,039), Essex co., NE Mass., a suburb of Boston, on the Danvers River; settled c.1633, inc. as South Danvers 1855, name changed 1868. , Mass.--(BW HealthWire)--March 10, 1998--Analogic Corp. (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 manufacturer of high precision medical and industrial, diagnostic and measurement instruments and equipment, announced today revenues and earnings for its second quarter and six-month period ending Jan. 31, 1998. Revenues for the second quarter ended Jan. 31, 1998, were a record $71,648,000 compared with the prior year's second quarter revenues of $61,731,000, an increase of 16 percent. Net income for the second quarter was a record $5,681,000, or $.45 per share compared with $4,579,000, or $.37 per share for the prior year's second quarter, an increase of 24 percent. Revenues for the six months ended Jan. 31, 1998, were a record $135,577,000 compared with the prior year's six months' revenues of $121,204,000, an increase of 12 percent. Net income for the six-month period was $10,315,000, or $.82 per share compared with $8,513,000, or $.68 per share for the same period a year ago, an increase of 21 percent. -0-
Analogic Corp.
Consolidated Condensed Statements of Earnings
(Thousands, except share data)
Three Months Ended Six Months Ended
Jan. 31 Jan. 31
(Unaudited) (Unaudited)
1998 1997 1998 1997
Revenues:
Product & Service (Net) $63,463 $54,262 $117,986 $106,646
Engineering & Licensing 4,260 3,843 8,423 6,205
Other Operating Revenues 2,475 2,241 6,210 5,645
Interest & Dividend Income 1,450 1,385 2,958 2,708
Total Revenues $71,648 $61,731 $135,577 $121,204
Income from Operations 9,867 6,867 17,257 13,103
Equity in Net Loss of
Unconsolidated Affiliates (686) (338) (1,661) (603)
Impairment of Investments -- -- (400) --
Gain on Sale of Marketable
Securities -- -- 997 --
Income Before Income Taxes and
Minority Interest $9,181 $6,529 $16,193 $12,500
Provision for Income Taxes 3,148 1,921 5,518 3,887
Minority Interest in Net Income
of Consolidated Subsidiary 352 29 360 100
Net Income $5,681 $4,579 $10,315 $8,513
Basic Net Income Per Common
Share $ 0.45 $ 0.37 $ 0.82 $ 0.68
Diluted Net Income Per Common
Share $ 0.45 $ 0.36 $ 0.81 $ 0.67
Dividends Declared Per Share $ 0.06 $ 0.05 $ 0.11 $ 0.10
Basic Shares Outstanding 12,598,478 12,511,396 12,598,339 12,505,152
Diluted Shares Outstanding 12,760,137 12,687,221 12,770,226 12,670,575
-0-
Consolidated Condensed Balance Sheets (Thousands)
Jan. 31 July 31
1998 1997
(Unaudited) (Audited)
Assets:
Cash & Investments $115,611 $114,450
Accounts & Notes Receivable (Net) 53,011 52,638
Inventories 55,047 47,800
Prepaid Expenses & Other Current Assets 6,788 6,714
Total Current Assets $230,457 $221,602
Property, Plant & Equipment (Net) 50,212 48,247
Other Assets 11,129 12,510
Total Assets $291,798 $282,359
Liabilities & Stockholders' Equity:
Mortgage and Other Notes Payable $ 874 $ 841
Accounts Payable 14,450 13,185
Accrued Expenses 18,620 17,997
Accrued Income Taxes 2,897 3,449
Total Current Liabilities $ 36,841 $ 35,472
Long-Term Debt 8,093 8,614
Deferred Income Taxes 3,889 3,854
Minority Interest in Subsidiaries 4,690 5,538
Other Liabilities 386 665
Total Liabilities $ 53,899 $ 54,143
Stockholders' Equity 237,899 228,216
Total Liabilities and Stockholders' Equity $291,798 $282,359
-0- CONTACT: Analogic An`a`log´ic a. 1. Of or belonging to analogy. Corp. John A. Tarello, 978/977-3000 |
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