Key Developments For Analogic Corp
Analogic Corp (ALOG.O) (Nasdaq)
Analogic Corporation's BK Medical Announces New Three Year Agreement With MedAssets
BK Medical, an innovative leader in medical ultrasound and a wholly owned subsidiary of Analogic Corporation has signed a new three year product line agreement with MedAssets Supply Chain Systems. This agreement enables BK Medical's urological and surgical ultrasound systems, related accessories, and supplies to be available to more than 1,700 MedAssets healthcare provider customers who utilize the MedAssets group purchasing organization (GPO) services.
Analogic Corporation Announces Fourth Quarter Cash Dividend
Analogic Corporation announced that its Board of Directors, on September 22, 2009, declared a $0.10 cash dividend for its fourth fiscal quarter ended July 31, 2009 payable on October 19, 2009, to shareholders of record on October 5, 2009.
Analogic Corporation Receives Order For Enhancement of New OnGuard Checkpoint CT System
Analogic Corporation announced that it has received funding from the U.S. Transportation Security Administration (TSA) for the enhancement of its new OnGuard checkpoint CT System. Suited for small and medium sized airports, the OnGuard DualUse scanner will provide unique advance threat detection capabilities in both checkpoint and checked baggage applications. Delivery of the first evaluation system is slated for the Company's first fiscal quarter 2010, which ends on October 31, 2009.
Analogic Corporation Reduces Workforce
Analogic Corporation announced that it has reduced its workforce by 6% worldwide and has vacated a portion of its Canton, Massachusetts facility. As a result, the Company will record a $3.1 million charge in the fourth fiscal quarter of 2009. The Company expects this action will result in annual expense savings of approximately $5 million, a portion of which will fund strategic growth initiatives. The reduction in force, which affects 85 people across the business, will result in a $2.1 million charge for severance and related costs.
Analogic Corporation Announces Appointment Of Chief Financial Officer
Analogic Corporation announced that Michael L. Levitz will join Analogic as vice president, Chief Financial Officer (CFO), and treasurer, effective July 6, 2009. Mike succeeds John Millerick, who has resigned from his position as Analogic's senior vice president, CFO, and treasurer, effective July 5, 2009.
