Analogic reported lower revenue and the firm swung to a net loss for its 2017 fiscal third quarter (end-April 30).
The company saw a 5% decrease in revenue, from $128 million in 2016 to $122.2 million this year, which it attributed to lower sales in its Medical Imaging and Ultrasound businesses. Net loss for the period was $59.6 million, compared with net income of $4.9 million in 2016.
Revenue for the first nine months of 2017 totaled $374.8 million, up 1% from 2016's $370.8 million. Net loss for the period was $49.6 million, compared with net income of $3.4 million in 2016, Analogic said.
The company's Medical Imaging segment revenue was $69.5 million for the third quarter, down 5% from revenue of $72.9 million in the same period in 2016 due to lower revenues in CT and MRI. Year-to-date Medical Imaging revenues were $209.0 million, down 1% from the first nine months of 2016.
The company's Ultrasound segment revenue was $34.8 million for the quarter, down 7% from $37.6 million in the same period last year, due to delays in general imaging system sales and lower point-of-care revenue, the company said. Ultrasound revenues for the first nine months of fiscal 2017 were $110.9 million, down 6% from last year, according to the firm.
