Analogic shares rise on quarterly report

Shares of Analogic Corp. of Peabody rose sharply today after the maker of medical imaging systems reported fiscal third-quarter adjusted income above analyst estimates.

The company posted income of $6.7 million, or 50 cents per share, compared with $7 million, or 50 cents per share, in the same quarter a year before. Excluding one-time items, adjusted income was 59 cents per share, up 9 percent from the year-ago quarter.

Revenue grew to $102.8 million from $83.9 million.

Analysts polled by Thomson Financial expected income of 52 cents per share on revenue of $97 million for the quarter ended in April.

Revenue in Analogic's medical imaging product segment rose 25 percent to $58.6 million. Sales of clinical ultrasound systems climbed 17 percent to $22.7 million. About one-third of the increase in the ultrasound segment was from organic growth, with favorable foreign exchange rates contributing the rest.

Analogic shares rose $7.17, or nearly 11 percent, to $73.59 in mid-day trading on the Nasdaq Stock Market. The stock has ranged from $50 to $79.02 over the past year. (AP)