Analogic Announces Financial Results For The Second Quarter Ended January 31, 2013 And Declares Quarterly Cash Dividend

PEABODY, Mass., March 11, 2013 (GLOBE NEWSWIRE) -- Analogic Corporation (Nasdaq:ALOG), enabling the world's medical imaging and aviation security technology, today announced results for its second quarter ended January 31, 2013.

Highlights during the second quarter (comparisons are against Q2 of fiscal 2012) included:
  • Revenue of $138.6 million, up 10%
  • GAAP operating margin of 10%; up 4 points
  • Non-GAAP operating margin of 14%, up 2 points
  • GAAP diluted EPS of $0.78; Non-GAAP diluted EPS of $1.05
  • Security revenue of $17.4 million, up 73% on developing new high-speed threat detection market
  • Generated positive operating cash flows of $14.1 million
  • Completed the acquisition of Ultrasonix Medical Corporation after the end of the quarter, accelerating expansion into the fast growing point-of-care market

Revenue for the second quarter of fiscal 2013 was $138.6 million, an increase of 10% compared with revenue of $126.4 million in the second quarter of fiscal 2012. GAAP net income for the second quarter of fiscal 2013 was $9.8 million, or $0.78 per diluted share, compared with net income of $19.6 million, or $1.59 per diluted share, in the second quarter of fiscal 2012. Included in our GAAP net income for the second quarter of fiscal 2012, as previously reported, was an $0.80 benefit to diluted net income per share due to a tax refund and a gain on sale of an equity interest.

Non-GAAP net income for the second quarter was $13.2 million, or $1.05 per diluted share, compared with $12.5 million, or $1.02 per diluted share, in the prior year's second quarter. A reconciliation of GAAP to non-GAAP results is included as an attachment to this press release.

For the first six months of fiscal 2013, revenue totaled $258.4 million, up 6% from the same period in the prior year. Year-to-date GAAP net income was $14.2 million, or $1.13 per diluted share, compared with $23.6 million, or $1.88 per diluted share, from the same period last year. Year-to-date non-GAAP net income was $19.9 million, or $1.58 per diluted share, compared with $19.2 million, or $1.53 per diluted share, in the same period last year.  

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