Analogic announces record revenues and increased earnings for its third quarter.PEABODY, Mass.--(BUSINESS WIRE)--June 4, 1996-- Analogic An`a`log´ic a. 1. Of or belonging to analogy. Corp. (NASDAQ-ALOG), a leading manufacturer of high precision medical and industrial, diagnostic and measurement instruments and equipment, announced today revenues and earnings for its third quarter and nine-month period ending April 30, 1996. Revenues for the third quarter ended April 30, 1996, were a record $60,486,000 compared with the prior year's third quarter revenues of $49,104,000, an increase of 23 percent. Net income for the third quarter was $3,762,000, or $.30 per share compared with $1,866,000, or $.15 per share for the prior year's third quarter. Revenues for the nine months ended April 30, 1996, were a record $160,110,000 compared with the prior year's nine months' revenues of $152,572,000, an increase of 5 percent. Net income for the nine-month period was $7,121,000, or $.57 per share compared with $8,472,000, or $.68 per share for the same period a year ago. Bernard M. Gordon 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. , 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. , and Bruce Bruce, Scottish royal family descended from an 11th-century Norman duke, Robert de Brus. He aided William I in his conquest of England (1066) and was given lands in England. R. Rusch, COO (Cell Of Origin) See mobile positioning. , stated that the third quarter revenues increased $7,340,000 or 14 percent over second quarter revenues and with a sales backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. in excess of $60,000,000 coming into the fourth quarter, the company should continue to generate growth in revenues and profitability. They also stated that product mix, competitive price pressures in the ultrasound ultrasound or sonography, in medicine, technique that uses sound waves to study and treat hard-to-reach body areas. In scanning with ultrasound, high-frequency sound waves are transmitted to the area of interest and the returning echoes recorded market and, particularly, the build-up build·up also build-up n. 1. The act or process of amassing or increasing: a military buildup; a buildup of tension during the strike. 2. of the production facilities and personnel to manufacture its unique lightweight, low-power CT scanner CT scanner n. See CAT scanner. negatively impacted earnings in the first six months of this fiscal year. As previously announced, the new CT scanner is now in production and a significant number of machines were shipped during the third quarter.
CONSOLIDATED CONDENSED
STATEMENTS OF EARNINGS
(Thousands, except share data)
Three Months Ended Nine Months Ended
April 30, April 30,
(Unaudited) (Unaudited)
1996 1995 1996 1995
Revenues: Product & service (Net) $54,038 $44,830 $142,935 $137,516 Engineering & licensing 2,740 798 4,727 4,268 Other operating revenues 2,502 2,225 7,587 7,025 Interest & dividend income 1,206 1,251 4,861 3,763
Total revenues $60,486 $49,104 $160,110 $152,572
Income before income taxes $4,419 $2,153 $7,697 $11,074 Provision for income taxes 1,137 500 1,474 2,382 Minority interest in net income (loss) of consolidated subsidiaries (480) (213) (898) 220
Net income $3,762 $1,866 $7,121 $8,472
Net income per common equivalent share $.30 $.15 $.57 $.68 Dividends declared per share $.05 $.04 $.13 $.08 Equivalent shares outstanding 12,551,127 12,497,912 12,548,195 12,473,453 CONTACT: Analogic Corp., Peabody John A. Tarello, 508/977-3000 |
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