Analogic reported fiscal second-quarter revenues of $72.6 million, down 21% from the $91.7 million reported in the second quarter last year. For the period (end-January 31), the Peabody, MA-based vendor had net income of $605,000, compared with net income of $4.5 million last year.
Executive chairman Bernard Gordon said the revenue and profitability shortfall was attributable to the recession, as well as excessive expansion of the firm's infrastructure. The company has implemented cost reduction and containment programs, he said.
In positive developments, Analogic said that it experienced solid growth in its clinical ultrasound and cardiovascular information management systems segments, and that its medical imaging components business exceeded expectations. The firm continues to aggressively seek additional OEM medical customers, Gordon said.
By AuntMinnie.com staff writersMarch 18, 2002
Related Reading
Miller resigns from Analogic, February 18, 2002
Analogic hires Weaver, February 14, 2002
Analogic hires technical VP, January 23, 2002
Analogic posts first-ever quarterly loss, December 12, 2001
B-K buys Life 3-D assets, December 4, 2001
Copyright © 2002 AuntMinnie.com
