Analogic Plans Share Buyback

Analogic(ALOG Quote) Thursday delivered better-than-expected earnings results for its fiscal third quarter and announced plans to buy back stock.

Its board authorized the repurchase of up to $60 million of common stock using its available cash.

Separately, the Peabody, Mass., imaging-equipment maker reported revenue of $83.9 million for the quarter ended April 30, up from $81.3 million in the same period last year. Analogic said that, compared to the same quarter in 2006, medical imaging revenue increased 17% and revenue for clinical ultrasound systems grew 11%, but revenue for digital radiography systems and subsystems was down 55%. ...