Analogic Corporation Announces New bk3000(TM) Ultrasound System at the Radiological Society of North America
Nov 25 14
Analogic Corporation announced that it will demonstrate its new bk3000(TM) ultrasound system at the 100th Scientific Assembly and Annual Meeting of the Radiological Society of North America (RSNA), Nov. 30 -- Dec. 5. The new system will allow the BK Ultrasound brand, powered by Analogic, to address the fast growing demands of interventional and image guided procedures as a result of superb Ultra High Resolution imaging and Doppler capabilities enabled by TriCore(TM) architecture. TriCore architecture is the combination of breakthrough technologies that enables the bk3000 to deliver a new level of imaging and performance. Specifically, the Ultra High Resolution imaging and Doppler improvements allow for more consistent visualization of subtle tissue contrast differences and excellent border definition, while simultaneously improving the ability to see small structures. There is more information at depth as well as increased frame rates for improved visualization of moving structures. Featuring advanced transducer technology, the bk3000 is available with a comprehensive family of transducers. The advanced technology will also enable the new platform to offer increased sensitivity and efficiency with improved imaging access across a wide range of body types for guided and diagnostic procedures. Analogic will also highlight its breakthrough Sonic Window(R) handheld ultrasound system for ease of visualizing vasculature and needle guidance for applications such as peripheral intravenous access (PIV). Sonic Window is built on Analogic's patented DSIQ technology, utilizing advanced acoustic-silicon packaging to build first-of-its-kind, real-time 2D coronal imaging at clinician-controlled depths. The Sonic Window is designed to improve success with difficult vascular access by helping clinicians to better assess and visually guide insertion of needles and catheters.
Analogic Corporation Introduces the New Flex Focus 400 Exp Ultrasound System at Anesthesiology 2014
Oct 10 14
Analogic Corporation announced that the Flex Focus(TM) 400 exp ultrasound system will be showcased at Anesthesiology(TM) 2014, the American Society of Anesthesiologists' Annual Meeting, October 11-15, in New Orleans. Also highlighted are the new compact SonixTouch(R) Q+ and the SonixOne Q+ ultrasound systems for point-of-care applications. The premium Flex Focus 400 exp, designed for point-of-care applications including anesthesia, pain management, musculoskeletal and emergency medicine, is equipped with Quantum(TM) Plus Imaging Technology for efficiency, speed and accessibility. The premium performance Flex Focus 400 exp offers anesthesiologists a new level of performance that potentially improves routine and complex ultrasound needle-guided procedures such as nerve blocks, vascular access, core biopsies and fine needle aspirations. The compact system is easy to maneuver in tight spaces and offers up to four hours of plug-free imaging. In addition to anesthesia ultrasound system portfolio the company will be introducing the Sonic Window(TM) handheld ultrasound system, an ultra-compact system for direct visualization of structures beneath the skin in real time to effectively guide clinicians placing peripheral IVs. Unlike existing portable ultrasound devices on the market today, Sonic Window, which is the size of a remote control, offers a new approach to image-guided peripheral IV and requires only one hand for operation. Designed to improve the success of difficult vascular access, it helps clinicians better assess and visually guide cannulations. The self-contained Sonic Window does not have cables and wires connecting to a transducer, nor does it require a cart or stand. The system is cordless and operates with a rechargeable battery. Analogic Ultrasound will be demonstrating its complete line of ultrasound systems with flexible options and variable price points at Anesthesia 2014 in New Orleans.
Analogic Corporation Announces Unaudited Consolidated Financial Results for the Fourth Quarter and Full Year Ended July 31, 2014; Declares Quarterly Dividend for the Fourth Quarter of Fiscal 2014, Payable on October 10, 2014; Provides Financial Guidance for Fiscal 2015
Sep 15 14
Analogic Corporation announced unaudited consolidated financial results for the fourth quarter and full year ended July 31, 2014. Revenue for the fourth quarter of fiscal 2014 was $142.0 million, a decrease of 15% compared with revenue of $166.2 million in the fourth quarter of fiscal 2013. GAAP net income for the fourth quarter of fiscal 2014 was $11.2 million, or $0.89 per diluted share, compared with net income of $11.7 million, or $0.93 per diluted share, in the fourth quarter of fiscal 2013. Non-GAAP net income for the fourth quarter was $17.2 million, or $1.36 per diluted share, compared with $19.3 million, or $1.53 per diluted share, in the prior year's fourth quarter. Income from operations was $11,951,000 against $17,425,000 for the same period of last year. Income before income taxes was $11,798,000 against $17,265,000 for the same period of last year.
For fiscal 2014, revenue totaled $517.5 million, down 6% from the same period in the prior year. GAAP net income for the fiscal year was $34.5 million, or $2.72 per diluted share, compared with $31.1 million, or $2.48 per diluted share, in fiscal 2013. GAAP net income for fiscal 2014 included favorable discrete net tax benefits totaling $8.8 million, or $0.69 per diluted share, primarily associated with a reduction in taxes expected to be payable in the future associated with the Canadian operations. Non-GAAP net income for the fiscal year was $44.6 million, or $3.52 per diluted share, compared with $48.8 million, or $3.88 per diluted share, in fiscal 2013. Non-GAAP results do not include the tax benefit. Income from operations was $29,088,000 against $45,375,000 for the same period of last year. Income before income taxes was $29,038,000 against $44,097,000 for the same period of last year. For the full year, the company generated operating cash flows of $48 million, that's up 17% from last year. In addition, the company's free cash flows for the year were $30 million, almost doubled the $16 million reported last year, as the company's strong operating cash flows were coupled with lower capital expenditures, which decreased following completion of significant infrastructure investment that have been making over the previous two years.
On September 9, 2014, Analogic's Board of Directors declared a $0.10 cash dividend for each common share for its fourth fiscal quarter ended July 31, 2014. The cash dividend will be payable on October 10, 2014, to shareholders of record on September 25, 2014.
The company expects revenues in fiscal 2015 to grow mid single-digits with 1-2 points improvement in non-GAAP operating margin, putting it back on a trajectory of long-term sustainable growth.