Record revenue for component maker Analogic

Component manufacturer Analogic reported record revenue of $29.76 million for the year (ended July 31), compared with $27.96 million a year ago. But the company had a drop in net income for the year of $14.1 million, compared with $19.5 million a year earlier.

Analogic's fourth quarter numbers, however, showed a profit of $5.4 million, compared with $3.9 million for the same quarter a year earlier.

"The solid growth demonstrated in our record fourth quarter was due to increased shipments of both medical and industrial products," said Bernard M. Gordon, Analogic's CEO.

The company ships digital radiography systems, ultrasound engines, and connectivity devices, as well as complete ultrasound and CT scanners, to domestic and foreign companies that attach their own labels, said Tom Miller, president and COO.

"We're at the front end and the tail end of systems such as Kodak's DR products (SCAN 10/25/00)," Miller said.

All commercial selenium x-ray plates are coated by Anrad, a wholly owned Analogic subsidiary, he said. These are then supplied to Hologic/DRC, which completes the electronics for plates. Analogic purchases the plates and integrates them with Fischer Imaging components such as generators and table stands, and sells the finished product to Kodak.

Analogic does not really compete with other companies, Miller said, but rather with the R&D sections of the OEMs. It must be able to supply them with high-end products that are better than the ones they could have manufactured themselves.

Miller would not identify Analogic's other OEM customers.

"They want to stick the ŒMade in Japan' or ŒMade in Germany' or ŒMade in Milwaukee' labels on them, so we'll let them identify themselves if they want to," he said.