Continued stabilization in its medical technology business helped buoy revenues and net income for medical imaging firm Analogic of Peabody, MA, in the company's 2010 second fiscal quarter (end-January 31).
Net revenue for the quarter totaled $103.3 million, compared with $93.4 million in the second quarter of 2009. Net income increased to $3.6 million, compared with $26,000 in the same quarter a year ago.
For the second quarter, revenues from Analogic's CT and MRI segment were $55.3 million, down $2.4 million from the first quarter of 2010 and down $6.5 million over the second quarter of 2009. Analogic blamed the decreases on lower customer-funded R&D efforts and the global economic slowdown over the last 12 months.
For the quarter, digital radiography revenues were $8.6 million, a gain of $400,000 from the first quarter of 2010 and up $1.8 million over the same quarter a year ago.
The specialized ultrasound segment generated revenues of $24.8 million, compared with $4.8 million in the first quarter of 2010 and up $4 million from the prior year's second quarter.
For the six-month period, total net revenues slipped to $198.6 million, compared with $204.3 million in the first half of 2009. Net income doubled to $3.6 million, compared with $1.7 million in the same period a year ago.
Related Reading
Sour economy bites into Analogic's growth, September 25, 2009
Analogic cuts staff by 6%, August 10, 2009
Analogic sales drop, but profit rises, June 5, 2009
Analogic posts mixed Q2 results, March 5, 2009
Analogic to cut staff, January 29, 2009
Copyright © 2010 AuntMinnie.com
