Imaging technology developer Analogic reported record revenue of $135.7 million in its first quarter, up 79% from the $75.8 million reported in the first quarter a year ago. For the period (end-October 31), the Peabody, MA-based vendor had record net income of $20.2 million, compared with a net loss of $6.4 million last year.
Chairman and CEO Bernard Gordon credited the performance in large part to significant gains in the firm's security imaging business. In medical developments, Gordon said that Analogic is devoting substantial resources to develop CT systems for several rapidly developing niche markets, and is also developing new digital x-ray systems and subsystems. The company is also working on a new generation of CT data acquisition systems for both medical and security applications.
By AuntMinnie.com staff writersDecember 11, 2002
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