Analogic’s Q4, fiscal 1999, results slip

Continued weakness in the Asian and South American markets helped bring in disappointing financial results for Analogic in its fiscal 1999 (end-July). Sales for the year were $279.7 million, down 10.8% from 1998’s $294.5 million, while annual net income was $19.5 million, compared with $23.9 million in the same period in 1998.

In the fourth quarter, Analogic had sales of $69 million, down 15.3% from the previous year’s $81.5 million. The Peabody, MA-based company’s net income for the quarter was $3.9 million, compared with $7.2 million in the fourth quarter of 1998. In addition to softness in the Asian and South American markets, Analogic also pointed to costs it sustained for new engineering projects, for start-ups, and to ensure Y2K compliance for its products.