Analogic announces record revenues and record earnings for its fiscal year ended July 31, 1997.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)--Oct. 6, 1997--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 the fourth quarter and fiscal year ended July July: see month. 31, 1997. Revenues for the fiscal year ended July 31, 1997, were a record $256.7 million, compared with the prior year's fiscal year revenues of $230.5 million, an increase of eleven percent. Net income for fiscal year was $20.1 million, or $1.58 per share, compared with $13.1 million, or $1.04 per share for fiscal 1996, an increase of fifty-four Adj. 1. fifty-four - being four more than fifty 54, liv cardinal - being or denoting a numerical quantity but not order; "cardinal numbers" percent. Revenues for the fourth quarter ended July 31, 1997, were a record $71.4 million, compared with the prior year's fourth quarter revenues of $70.4 million. Net income for the fourth quarter was $6.4 million, or $.50 per share, compared with $5.9 million, or $.47 per share for the prior year's fourth quarter, an increase of seven percent. The results of operations in the fourth quarter include a charge of $1.7 million for the write-off Write-Off A reduction in the value of an asset or earnings by the amount of an expense or loss. Companies are able to write off certain expenses that are required to run the business, or have been incurred in the operation of the business and detract from retained revenues. of a marketable security marketable security A security that may be resold by one investor to another. Most securities are marketable; they develop secondary markets for trading. Also called negotiable security. . If this charge was excluded, earnings per share for the fourth quarter and fiscal year would have been $.58 and $1.66, respectively.
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Analogic Corp.
Consolidated Condensed Statements of Earnings
(Thousands, except share data)
Three Months Ended 12 Months Ended
July 31 July 31
(Unaudited) (Audited)
1997 1996 1997 1996
Revenues:
Product & Service (Net) $60,739 $63,057 $222,033 $205,991
Engineering & Licensing 5,774 3,063 17,517 7,790
Other Operating Revenues 3,366 2,941 11,591 10,528
Interest & Dividend Income 1,476 1,289 5,588 6,151
Total Revenues $71,355 $70,350 $256,729 $230,460
Income from Operations 10,698 8,724 32,107 16,981
Equity in Loss of
Unconsolidated Affiliates 1,316 261 2,374 821
Loss on Investment 1,742 --- 1,742 ---
Income Before Income Taxes
and Minority Interest $ 7,640 $ 8,463 $ 27,991 $16,160
Provision for Income Taxes 545 2,767 6,631 4,241
Minority Interest in Net Income
(Loss) of Consolidated
Subsidiaries 725 (248) 1,270 (1,146)
Net Income $ 6,370 $ 5,944 $20,090 $13,065
Net income Per Common
Equivalent Share $ 0.50 $ 0.47 $ 1.58 $ 1.04
Dividends Declared Per Share $ 0.05 $ 0.05 $ 0.20 $ 0.18
Equivalent Shares
Outstanding 12,746,844 12,628,434 12,701,800 12,562,085
CONTACT: Analogic An`a`log´ic a. 1. Of or belonging to analogy. Corp. John A. Tarello, 978/977-3000 |
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