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Analogic 4Q Profit Doubles On Greater Revenue

Thu, 09/13/2012 - 9:57pm
The Associated Press

Medical and security imaging equipment maker Analogic Corp. said Thursday its net income more than doubled in the fiscal fourth quarter on greater sales of ultrasound and security products.

Analogic said its new products, a larger direct-sales force, and increased efficiency helped its results.

The company's profit far surpassed Wall Street expectations, and in aftermarket trading, Analogic shares jumped $7.56, or nearly 11 percent, to $76.75.

The company said its net income rose to $12.1 million, or 96 cents per share, in the quarter ended July 31. In the same period in fiscal 2011, Analogic reported net income of $5.6 million, or 45 cents per share.

Analysts were forecasting net income of 74 cents per share, according to FactSet.

Revenue increased 12 percent, to $151 million from $135.3 million.

Analogic said its medical imaging revenue dipped to $81.1 million from $81.4 million. However ultrasound revenue grew to $41.6 million from $34.7 million and security technology revenue rose to $28.3 million from $19.2 million.

In full-year fiscal 2012, the company's net income more than doubled to $43.1 million, or $3.42 per share, from $17.8 million, or $1.42 per share. Revenue rose 9 percent, to $516.6 million from $473.6 million.

Analogic said it expects organic revenue growth in the "high single digits" in fiscal 2013. On average analysts expect the company to have $553.4 million in revenue, which implies growth of about 7 percent.

Shares of Analogic rose 44 cents to $69.19 in regular-session trading Thursday before the release of the earnings results.

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