Medical imaging firm Analogic reported an 11% decline in revenue for the company's fiscal fourth quarter (end-July 31), while net income for the vendor also slipped.
For the last quarter of fiscal 2016, Analogic reported revenue of $138.1 million, compared with sales of $154.5 million in the fourth quarter of fiscal 2015. The company's net income for the period was $8.8 million, compared with net income of $10.9 million in the corresponding quarter of fiscal 2015.
For the full fiscal year, Analogic had revenue of $508.8 million, down 6% from $540.3 million for the full fiscal year of 2015. The company's net income for the year was $12.1 million, compared with net income of $33.5 million in the same period of 2015.
Analogic said that revenues in the fourth quarter and full fiscal year were lower due to delays for international tenders in its security business, as well as lower sales in the company's legacy OEM probe business, compared with a strong fourth quarter of fiscal 2015.
Sales in the vendor's medical imaging business were down for the quarter, affected by the timing of shipments in its MRI and mammography segments. The firm's CT business in China is "growing nicely," the company said, with 130 systems shipped. Also, Analogic's direct ultrasound probe business posted double-digit growth in the fourth quarter.
