Analogic announces record revenues and earnings for its fourth 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.--(BUSINESS WIRE)--Sept. 24, 1996-- Analogic An`a`log´ic a. 1. Of or belonging to analogy. 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 the fourth quarter and fiscal year ended July July: see month. 31, 1996. Revenues for the fourth quarter ended July 31, 1996, were a record $70.4 million, compared with the prior year's fourth quarter revenues of $56.3 million, an increase of twenty-five percent. Net income for the fourth quarter was $5.9 million, or $.47 per share, compared with $4.2 million, or $.34 per share for the prior year's fourth quarter, an increase of forty percent. Revenues for the fiscal year ended July 31, 1996, were a record $230.5 million, compared with the prior year's fiscal year revenues of $208.8 million, an increase of ten percent. Net income for the fiscal year was $13.1 million, or $1.04 per share, compared with $12.7 million, or $1.02 per share for fiscal 1995.
ANALOGIC CORP.
CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS
(Thousands, except share data)
Three Months Ended 12 Months Ended
July 31 July 31
(Unaudited) (Audited)
1996 1995 1996 1995
Revenues: Product & service (net) $63,057 $50,448 $205,991 $187,964 Engineering & licensing 3,064 1,802 7,790 6,070 Other operating revenues 2,940 2,695 10,528 9,720 Interest & dividend income 1,289 1,310 6,151 5,073
Total revenues $70,350 $56,255 $230,460 $208,827
Income before income taxes and minority interest $8,463 $5,817 $16,160 $16,891 Provision for income taxes 2,767 1,285 4,241 3,667 Minority interest in net income (loss) of consolidated subsidiaries (248) 298 (1,146) 518
Net income $5,944 $4,234 $13,065 $12,706
Net income per common equivalent share $.47 $.34 $1.04 $1.02 Equivalent shares outstanding 12,628,434 12,484,183 12,562,085 12,475,035
CONSOLIDATED CONDENSED BALANCE SHEETS (Thousands)
July 31, July 31,
1996 1995
(Audited) (Audited)
Assets:
Cash & investments $100,549 $99,802
Accounts & Notes receivable (net) 46,815 45,212
Inventories 50,232 46,287
Prepaid Expenses & Other Current
Assets 4,416 5,108
Total current assets $202,012 $196,409
Property, plant & equipment (net) 47,756 49,762
Other assets 15,394 14,027
Total assets $265,162 $260,198
Liabilities & Stockholders' Equity:
Mortgage and other notes payable $4,086 $758
Accounts payable 11,438 12,467
Accrued expenses 15,975 15,553
Accrued income taxes 1,998 1,832
Total current liabilities $33,497 $30,610
Long-term debt 9,455 10,236
Deferred income taxes 4,832 4,683
Minority interest in subsidiaries 4,268 12,489
Other liabilities 1,310 1,287
Total liabilities $53,362 $59,305
Stockholders' equity 211,800 200,893
Total liabilities and stockholders'
equity $265,162 $260,198
CONTACT: Analogic Corp., John A. Tarello, 508/977-3000 |
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