Analogic Corp. gained some ground during the 2009 third quarter, compared with the second, but its quarterly sales and earnings were still far off their marks from a year ago.
The Peabody medical imaging products maker posted sales of $93.6 million for the period ended April 30, an 8.8 percent plunge compared with the second quarter and an 8.9 percent drop compared with the same period last year.
Net income for the third quarter slipped 66.3 percent to $2.3 million, compared with the third quarter of 2008, but rose nearly 59 percent compared with $1.4 million during the 2009 second quarter.
Analogic chalked the results up to the global economic downturn and its effect on large capital equipment spending, a trend president and CEO Jim Green said the company expects to continue for the next few quarters.
But Analogic expects increase business for its contract R&D operation, Green added.
The company also paid out a $0.10-per-share dividend for the quarter.