Medical imaging firm Analogic of Peabody, MA, enjoyed a 15% revenue increase, as well as growth in net income, for its third quarter of fiscal 2010 (end-April 30).
For the period, Analogic posted revenue of $107.2 million, up 15% compared to revenue of $93.6 million in the corresponding quarter of 2009. Revenues from its CT and MRI segment were $61.1 million for the third quarter of fiscal 2010, up $11.1 million from the prior year's third quarter. Analogic attributed this revenue increase to the improving global economy positively affecting hospital spending.
The company saw a slight decrease in its digital radiography revenue, posting sales of $10.1 million compared to $10.3 million in the same period of 2009. Revenues in the company's specialized ultrasound segment were $22.1 million for the quarter, up from 2009's $19.2 million. Analogic attributed this revenue increase to increasing demand for its Flex Focus ultrasound scanners.
Finally, Analogic posted net income of $4.8 million, compared with net income of $2.3 million in the same period of 2009.
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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
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