Analogic Corporation's New President Unveils Strategic Plan.Business/Technology Editors PEABODY, Mass.--(BUSINESS WIRE)--Jan. 31, 2000 Analogic Corporation's new President and C.O.O. Thomas J. Miller, who was appointed in October 1999, articulated management's vision for Analogic and the framework for a five-year strategic plan to accelerate the Company's growth and enhance shareholder value at the annual meeting on January 28. The strategic plan has three overlapping phases. The goals of the first phase are to refocus on Analogic's present core business and achieve greater operational excellence. The goal of the second phase is to continue the Company's expansion as a complete systems provider for OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and customers, and the goal of the third phase is to proactively expand offerings for the installed base of products for our OEM customers. Miller cautioned that, &uot;While revenues should continue to grow during the first phase, which may take 18 months, income will not grow as rapidly as the Company invests in new manufacturing programs and infrastructure. During the second phase, income should increase comparably with revenues, while during the third phase income should grow more rapidly than our markets or revenues, as we reap the benefits of achieving operational excellence and exploiting opportunities in rapidly evolving markets.&uot; The first phase includes several short-term objectives: break out the Computer Telephony See CTI, VoIP and IP telephony. Computer Telephony - Computer Telephone Integration product group for an IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. ; create more autonomous business units; revamp accounting and information systems; and achieve true world-class manufacturing. Miller explained that, &uot;Analogic's Computer Telephony group has the technological capability and market position to be an industry leader, but to truly excel in this extremely dynamic business requires a different level of capitalization.&uot; Defining other phase one objectives, Miller said the Company would consider the sale of non-core assets as opportunities arose; concentrate all industrial activities within one division; and create ultrasound and digital X-ray divisions as well as a formal corporate contract management team. The Company will also form a New Technology Development Group under the direction of Bernard Gordon Bernard Gordon (October 29, 1918 – May 11, 2007) was an American writer and producer. For much of his 27-year career, he toiled in obscurity, prevented from taking screen credit by the Hollywood Blacklist. , founder and C.E.O. of the Company, which will have as its primary objective the continuous renewal and replication of Analogic's unique engineering process. This group will also recruit and train a new generation of Analogic engineers while providing a seasoned technical resource for OEM customers. In closing, Miller commented, &uot;This is the beginning of an exciting period in Analogic's history -- for shareholders as well as employees. We have the talent and resources to make this plan a reality. Our challenge... is to maintain the things that have made Analogic a world benchmark for engineering, while shaping the Company for overall operational excellence and solid business growth.&uot; Analogic Corporation This article or section needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. is a leading custom designer and manufacturer of advanced systems and subsystems sold to major medical, industrial and telecommunications Original Equipment Manufacturers (OEMs). We are 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), 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. ), Ultrasound, Patient Monitoring, Analog-to-Digital (A/D A/D See advance-decline line (A/D). ) Conversion, Digital Imaging, Computer Telephony, and Test &Measurement Applications. &uot;Safe Harbor&uot; Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Statements in this press release regarding Analogic Corporation's business which are not historical facts are &uot;forward-looking statements&uot; that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see &uot;Risk Factors&uot; in the Company's Annual Report or Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the most recently ended fiscal year. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion