Analogic [ALOG]
3Q18 3Q17
Sales $120M $122.2M
Net Inc. $7.1M, 0.56 ($59.7M, 4.78)
Net income swung to a profit due to asset impairment charges recorded a year ago in one of the company’s medical businesses. Even excluding these charges, income was higher, in part also due to more favorable tax rates. Sales slipped 2% primarily on lower revenue in the Medical Imaging segment and to a lesser degree in the Security and Detection segment, which posted $16.4 million in sales in the quarter versus $17.9 million a year ago. Security sales were down 8% on lower shipments of airport checked baggage systems. Due to the pending acquisition of Analogic by the private equity firm Altaris Capital Partners, the company did not host an earnings call to discuss third quarter results. A special shareholder meeting is set for June 21 to approve the acquisition.