Analogic announces third quarter and nine month results.PEABODY, Mass.--(BUSINESS WIRE)--June 9, 1995--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, is pleased to announce sales and earnings for its third quarter and nine-month period ending April 30, 1995. Revenues for the third quarter ended April 30, 1995, grew to $49,104,000 from the prior year's third quarter revenues of $47,125,000, an increase of 4 percent. Revenue growth was principally due to increased sales of medical imaging technology and signal processing See DSP. products. Net income for the third quarter was $1,866,000, or $.15 per share, compared with $3,572,000, or $.29 per share, for the prior year's third quarter. 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 R. Rusch, COO, 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 a buildup 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 production facilities and management personnel in anticipation of the commencement of manufacturing of its unique lightweight, low-power CT scanner CT scanner n. See CAT scanner. , for which the company recently received FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. 510K approval, negatively impacted earnings this quarter. Increased research and development expenses, along with foreign currency exchange losses, also contributed to the lower earnings for the quarter. Revenues for the nine months ended April 30, 1995, were a record $152,572,000, compared with the prior year's nine months' revenues of $142,817,000, an increase of 7 percent. Net income for the nine-month period was $8,472,000 or $.68 per share, compared with $10,535,000, or $.85 per share for the same period a year ago. -0-
COMPARATIVE CONDENSED SUMMARY
STATEMENTS OF EARNINGS
(Thousands, except share data)
Three Months Ended Nine Months Ended
April 30, April 30,
(Unaudited) (Unaudited)
1995 1994 1995 1994
Revenues: Product & service (net) $44,830 $43,345 $137,516 $130,429 Engineering & licensing 798 562 4,268 2,264 Other operating revenues 2,225 2,098 7,025 6,667 Interest & dividend income 1,251 1,120 3,763 3,457
TOTAL REVENUES $49,104 $47,125 $152,572 $142,817
Income before income taxes $2,153 $4,893 $11,074 $15,524 Provision for income taxes 500 884 2,382 3,354 Minority interest in net income (loss) of consolidated subsidiaries (213) 437 220 1,635
NET INCOME $1,866 $3,572 $8,472 $10,535
Net income per common equivalent share $.15 $.29 $.68 $.85 Equivalent shares outstanding 12,497,912 12,416,072 12,473,453 12,439,898 CONTACT: Analogic Corp. John A. Tarello, 508/977-3000 |
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