Analogic's 2Q revenues and earnings fall, despite growth in medical imaging

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Revenues and earnings at Analogic Corp. declined in its second fiscal quarter, ending Jan. 31, as growth in medical imaging equipment could not offset a drop in explosive detection technology.

Revenues slipped to $95.3 million, compared with $157.1 million in the second quarter of FY03. Net income was $4.8 million, down from $21.3 million in the year-ago quarter.

For the six-month period, revenues declined to $170.2 million, compared with $289.4 million in the same period of FY03. Net income totaled $5.5 million, down from $40.9 million in the year-ago period.

Last year, Analogic achieved record revenues and income for the second fiscal quarter and the six-month, due to what the company described as "extraordinary shipments" of its EXplosive Assessment Computed Tomography (EXACT) systems for certified explosive detection systems (EDS) that screen luggage at airports.

Medical imaging equipment sales gained 31 percent over the year-ago quarter, as sales of cardiac information management equipment, clinical ultrasound systems and patient monitoring systems were up substantially quarter over quarter. Shipments of new multi-slice data acquisition systems for CT and of ultrasound transducers developed by its Sound Technology subsidiary increased significantly.