Medical imaging firm Analogic of Peabody, MA, posted revenue growth for its fourth quarter 2008, the company reported.
Revenues for the fourth quarter (end-July 31) were $117.1 million, up 26% compared with the prior year's $92.9 million. Net income for the fourth quarter was $3.3 million, down compared to the prior year due primarily to $2.1 million in lower interest income and a $2 million lower gain on the sale of other investments from the fourth quarter of 2007, Analogic said.
For the year ending July 31, Analogic's revenues were $413.5 million, compared with the prior year's revenues of $340.8 million, an increase of 21%. Net income for the nine-month period was $23.5 million, an increase of 53% compared to $15.4 million in 2007.
Analogic's medical business grew during the quarter: Medical technology revenues were $101.3 million, up 27% over the prior year's fourth quarter, in large part due to the acquisition of Copley Controls and the addition of that company's revenues, as well as solid growth in digital radiography revenues, the company said.
In other Analogic news, the company has received a $10 million order from L-3 Communications Security and Detection Systems for its Explosive Assessment Computed Tomography (EXACT) systems. The company's eXaminer 3DX Explosives Detection System (EDS), developed in collaboration with L-3, incorporates the EXACT subsystem and has an installed base of more than 800 units throughout the world for screening checked baggage at airports. The new order is expected to start shipping in December 2008 and continue through March 2009, according to Analogic.
Related Reading
Analogic enjoys revenue boosts in Q3, June 5, 2008
Analogic finishes Copley purchase, April 17, 2008
Analogic to acquire MRI gradient amplifier supplier, March 6, 2008
Gordon steps down as Analogic chairman, January 30, 2008
Analogic posts Q1 revenue increases, December 6, 2007
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