Medical imaging components provider Analogic reported record fourth-quarter revenues of $96.2 million, up 9.6% from the $87.8 million posted last year. For the period (end-July 31), the Peabody, MA-based vendor had net income of $1.2 million, compared with $5.4 million for the same period last year.
The company's fourth-quarter net income included a write-down of $3.2 million of certain assets in Analogic's Anatel telecommunications subsidiary. For the fiscal year, Analogic had record revenues of $360.6 million, up 24% compared with the $291.6 million posted last year. Analogic had net income of $15.2 million, compared with net income of $14.1 million last year.
While pleased with the growth of the firm's medical systems and components business (representing 75% of total revenues), chairman Bernard Gordon said that Analogic's industrial businesses were hurt by the drastic economic downturn in the semiconductor and telecommunications sectors. Analogic expects continued sluggishness in its telecommunications and test equipment units, which will affect profitability for fiscal 2002. Fundamentals in the firm's medical systems business remain sound, however, Analogic said.
By AuntMinnie.com staff writersOctober 2, 2001
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