Imaging equipment developer Analogic reported first-quarter revenues of $75 million, down 43% from the $132.3 million booked in the same quarter last year.
For the period (end-October 31), the Peabody, MA-based vendor had net income of $631,000, compared with net income of $19.7 million last year.
The revenue and income decrease was expected due to extraordinary sales of Analogic’s explosives-assessment CT systems in the first quarter last year, said president and CEO John Wood. The firm did experience growth in its medical components business, driven by strong demand for its advanced CT data acquisition systems and power systems for MRI, Wood added.
Analogic is developing several CT systems, including a low-cost movable multislice scanner intended for community hospitals and developing countries; a large-bore system for medical and security applications; and a hybrid system combining Analogic’s CT technology with scintillator technology for PET, Analogic said. The firm said it is also continuing to develop digital x-ray systems for general radiography and mammography, as well as a digital ultrasound mammography system.
By AuntMinnie.com staff writersDecember 11, 2003
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