Analogic Posts Higher Q3 Profit

(RTTNews) - Analogic Corp. (ALOG) reported net income for the third quarter of $9.1 million or $0.72 per share, compared to $7.8 million or $0.62 per share for the year-ago quarter.

Excluding items, adjusted net income for the third quarter was $13.5 million or $1.07 per share, compared to $11.8 million or $0.94 per share in the prior year quarter.

Both reported and adjusted net income for the latest quarter include $3.0 million or $0.24 per share of discrete tax benefits.

Revenue for the third quarter rose 8% to $133.6 million from $124.0 million a year earlier.

Analysts polled by Thomson Reuters expected the company to earn $0.99 per share on revenue of $132.79 million for the third quarter. Analysts' estimates typically exclude special items.

Jim Green, president and CEO, said, "For the fourth quarter we see strong revenue growth, driven by double-digit growth in Ultrasound and Security. We expect overall fiscal year revenue to grow 3-4%, with mid-single-digit growth on a constant currency basis and non-GAAP operating margins improving 1-2 points."