Analogic profit beats estimates, shares rise
(Reuters) - Imaging equipment maker Analogic Corp (ALOG.O) reported a quarterly profit above market expectations, helped by a jump in sales at its ultrasound and security technology businesses, sending its shares up 11 percent after the bell.
Sales at the ultrasound segment rose 20 percent to $41.6 million in the fourth quarter while the security technology segment, which makes airport security systems, rose 47 percent to $28.3 million.
The two businesses accounted for nearly half of total revenue.
Net income rose to $12.1 million, or 96 cents per share, from $5.6 million, or 45 cents share, a year earlier.
Excluding special items, the company earned $1.32 per share.
Revenue rose 12 percent to $151 million.
Analysts' on average had expected earnings of 71 cents per share on revenue of $140.8 million, according to Thomson Reuters I/B/E/S.
Shares of the Peabody, Massachusetts-based company closed at $69.19 on the Nasdaq on Thursday.
(Reporting by Tej Sapru in Bangalore; Editing by Don Sebastian)
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