Analogic Drops on Lower-Than-Expected Earnings

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Analogic (ALOG) was down 11% in midmorning after saying fourth-quarter profits fell to 27 cents a share from 41 cents in the year-ago period.

Including a writedown of assets related to its Anatel telecommunications unit, earnings were 10 cents a share, the company said. Revenue rose nearly 10% to $96.2 million from $87.8 million a year earlier.

Analogic makes analog-to-digital translation devices used in a variety of devices, including medical equipment. The company said it expects earnings well below recent levels in the first half of fiscal 2002 as a result of continuing weakness in the telecom and test-equipment markets.