Analogic (ALOG) Tops Q4 EPS by 12c

September 15, 2014 4:16 PM

Analogic (NASDAQ: ALOG) reported Q4 EPS of $1.36, $0.12 better than the analyst estimate of $1.24. Revenue for the quarter came in at $142 million versus the consensus estimate of $150.37 million.

Jim Green, president and CEO, commented, "Despite market challenges in both the medical and security markets, for the fiscal year we generated significant operating cash flow and maintained near record margins, positioning Analogic for growth and significant profitability in the future. In Medical Imaging, our new high-value-content CT platform is entering production and our MRI and Mammography businesses are stable. In Security, our baggage screening products are proven, our market position with L-3 Communications and Smiths Detection remains strong, and we are seeing early adoption for RapidDNA Analysis™ Systems. After the end of the quarter we received significant orders for threat detection and DNA analysis systems increasing our Security backlog to over $60 million, positioning us well for fiscal 2015."

"In direct Ultrasound, our sales force is stabilizing and we recently introduced our new bk3000 system, a premium ultrasound solution for urology and general imaging, positioning us for accelerating growth," Green added. "We are pleased to mention that during the fourth quarter we entered into an agreement with a significant global medical equipment provider that will allow us to leverage our new TriCore™ based ultrasound technology beyond our core markets. We expect to see shipments beginning in fiscal 2015 underpinning our long-term growth expectations for our Ultrasound business."

Green continued, "We believe that fiscal 2015 will see a return to growth as our Medical Imaging business stabilizes, our Ultrasound business accelerates in direct markets and Security sees strong growth. We expect revenues in fiscal 2015 to grow mid single-digits with 1-2 points improvement in non-GAAP operating margin, putting us back on a trajectory of long-term sustainable growth."

For earnings history and earnings-related data on Analogic (ALOG) click here.

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