Analogic Q3 Profit Rises; Authorizes Additional Stock Repurchase - Quick Facts

(RTTNews) - Analogic Corporation (ALOG) Thursday reported third-quarter net income of $7.8 million or $0.62 per share, compared to $5.2 million or $0.41 per share in the same period last year.

Adjusted earnings for the quarter were $11.8 million or $0.94 per share, up from $9.6 million or $0.76 per share in the prior year period. On average, three analysts polled by Thomson Reuters expected the company to earn $1.03 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues declined 1 percent to $124.03 million from $125.77 million last year. Analysts expected revenues of $126.55 million.

On June 3, 2014, Analogic's Board of Directors declared a $0.10 cash dividend for each common share for its third fiscal quarter ended April 30, 2014, payable on June 26, 2014, to shareholders of record on June 16, 2014.

Separately, Analogic announced that its Board of Directors has authorized an additional repurchase program of up to $30 million of the company's common stock.

The repurchase program will be funded using the company's available cash. As of April 30, 2014, Analogic had cash and cash equivalents of approximately $119 million and had approximately 12.4 million shares of common stock outstanding.