Analogic reported fiscal fourth-quarter revenues of $108.3 million, a 32% increase from the $82 million reported in the fourth quarter a year ago. For the period (end-July 31), the Peabody, MA-based firm had net income of $4.4 million, compared with net income of $1.7 million in the fourth quarter of 2003.
Analogic said that the gains were due to a modest increase in security system sales and general growth in medical imaging equipment sales. For the fiscal year, Analogic had revenues of $370.8 million, down 21% compared with 2003 revenues of $471.5 million. The company had net income of $11.6 million, compared with net income of $49.5 million in fiscal 2003.
The yearly decreases were attributed to extraordinary shipments of the company's EXplosive Assessment Computed Tomography (EXACT) systems in 2003. That decrease was partially offset, however, by 26% growth in Analogic's medical business. President and CEO John Wood said that the company experienced solid growth in sales of ultrasound systems and subsystems, CT subsystems, digital radiography systems, patient and fetal monitors, and cardiac systems, as well as in its embedded signal-processing sector.
In other fiscal-year developments, Analogic said it is developing new medical CT systems for evolving niche markets, and that it continues to work on a PET system that employs new detector technology for use in a new generation of hybrid PET/CT systems. These systems are expected to hit the market toward the end of 2005, Analogic said.
In addition, new digital radiography systems are being developed for Analogic's Anexa digital x-ray subsidiary, and research is also ongoing on imaging subsystems for multislice CT, MRI, and DR, including low-noise detector plates. The company continues to develop advanced ultrasound transducers, and is working on the next generation of clinical ultrasound systems, as well as an ultrasound mammography unit.
By AuntMinnie.com staff writers
September 22, 2004
Related Reading
Analogic taps Harris as security VP, September 16, 2004
Analogic gets EXACT boost, September 2, 2004
Analogic's Soshnick passes away, August 11, 2004
Anexa names regional distributors, August 3, 2004
Analogic shows Q3 downturn, June 10, 2004
Copyright © 2004 AuntMinnie.com
