Medical imaging firm Analogic of Peabody, MA, posted revenue increases for its third quarter 2008, the company reported.
Revenues for the third quarter (end-April 30) were $102.8 million, compared with the prior year's $83.8 million, an increase of 23%. Net income for the third quarter was $6.7 million, remaining flat compared to the prior year due primarily to lower interest income and a 36% higher tax rate, Analogic said.
For the nine months ending April 30, Analogic's revenues were $296.4 million, compared with the prior year's nine-month revenues of $247.8 million, an increase of 20%. Net income for the nine-month period was $20.2 million, compared to $7.1 million in 2007.
Analogic's medical business grew during the quarter, despite a slowdown in the CT market, the company said: Medical imaging product revenues for the third quarter were $58.5, up 25% over the prior year's third quarter. Digital radiography product revenues were $8.7 million, up from 2007 due to increasing shipments of amorphous selenium full-field digital mammography flat-panel detectors, the company said.
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