Analogic Corporation Beats Q1 EPS Estimates

Analogic Corporation ALOG announced results Tuesday for its first quarter ended October 31, 2014.

Revenue came in at $118.3 million, near estimates of $118.67 million and up 7 percent compared to the year-ago period.

Non-GAAP net income for the first quarter was $7.9 million, or $0.63 per diluted share, above estimates of $0.50 and the $0.06 reported in the prior year period.

GAAP net income for the first quarter of fiscal 2015 was $3.7 million, or $0.29 per diluted share, compared with a net loss of ($3.8) million, or ($0.30) per diluted share, in the first quarter of fiscal 2014.

On December 5, 2014, Analogic's Board of Directors declared a $0.10 cash dividend for each common share for its first fiscal quarter ended October 31, 2014. The cash dividend will be payable on January 2, 2015 to shareholders of record on December 19, 2014.

Jim Green, president and CEO, commented, "Consistent with our expectations, Analogic returned to growth in our first quarter of fiscal 2015, driven by our Medical Imaging and Ultrasound businesses, with significant improvements in gross margin. Market conditions for medical imaging equipment are seeing early signs of improvement and our new CT and ultrasound products are starting to gain traction, all resulting in a favorable outlook for the year. Security and Detection backlog remains strong with revenue on track for the fiscal year."

Analogic Corporation closed at $76.05 Tuesday, up 2.52 percent.