Analogic Posts Steep Drop In 3Q Profit

PEABODY, Mass. (AP) — Analogic Corp. reported a 66 percent drop in fiscal third-quarter profit Thursday on falling sales, missing Wall Street projections and sending shares down sharply in after-hours trading.

The company, which makes health and security imaging equipment, reported a profit of $2.3 million, or 18 cents per share, for the quarter ended April 30, compared with $6.7 million, or 50 cents per share, a year earlier.

Stripping out one-time costs, Analogic said it earned 24 cents per share, still well below the average analyst forecast of 36 cents, according to Thomson Reuters. ...