Analogic OKs stock repurchase program, reports Q3 results

AuntMinnie.com staff writers
Jun 7, 2007

Medical imaging firm Analogic announced that its board of directors has authorized the repurchase of up to $60 million of the company's common stock. The program will be funded with the Peabody, MA-based company's available cash; as of May 31, Analogic had 13,997,000 shares of common stock outstanding.

The company also reported results from its third quarter (end-April 30), with revenues of $83,889,000, a 3% increase compared to last year's revenues for the same period. Net income from continuing operations and net income for the third quarter was $6,998,000, compared to $2,510,000 in the third quarter of 2006.

Medical imaging revenues were up 17% compared to the previous year, with revenues for clinical ultrasound systems up by 11%; revenues for digital radiography systems were down by 55%, which the company attributed to the decreased demand for Anrad's digital flat-panel detectors, following record shipments in 2006.

By AuntMinnie.com staff writers
June 8, 2007

Related Reading

Analogic names new CEO, May 8, 2007

Analogic revenues fall in Q1, December 11, 2006

Wood to retire from Analogic, December 11, 2006

Analogic shows Q4 slump, September 26, 2006

Analogic revenues, income slide in Q3, June 8, 2006

Copyright © 2007 AuntMinnie.com

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