Analogic Announces Financial Results For The Second Quarter Ended January 31, 2011

PEABODY, Mass., March 10, 2011 (GLOBE NEWSWIRE) -- Analogic Corporation (Nasdaq:ALOG), a leading provider of medical imaging and aviation security technology, today announced results for its second quarter ended January 31, 2011.

Operating highlights during the second quarter included:

• Revenue of $117.3 million, up 15% from Q2 2010
• Reported diluted EPS of $0.42
• Non-GAAP diluted EPS of $0.53
• Positive cash flow from operations of $7.1 million
• Completed previously announced OEM ultrasound transducer product line acquisition, which contributed revenue of $2.1 million during the quarter

Revenue for the second fiscal quarter ended January 31, 2011, totaled $117.3 million, compared with first quarter revenue of $103.8 million and the prior fiscal year's second quarter revenue of $101.5 million. Reported net income from continuing operations for the second quarter of fiscal 2011 was $5.3 million, or $0.42 per diluted share. This compares with $1.4 million, or $0.11 per diluted share, in the first quarter, and $3.9 million, or $0.31 per diluted share, for the prior year's second quarter. Non-recurring accounting items related to the transducer product line acquisition added $0.06 to diluted earnings per share in the second quarter of fiscal 2011.

Non-GAAP net income from continuing operations for the second quarter was $6.7 million, or $0.53 per diluted share, compared with $5.5 million, or $0.44 per diluted share, in the first quarter, and $5.7 million, or $0.45 per diluted share, for the prior year's second quarter. A reconciliation of reported to non-GAAP results is included as an attachment to this press release.