Exhibit 99.1

 

LOGO

FOR IMMEDIATE WORLDWIDE RELEASE

For Further Information:

Investor Contact:

Mark Namaroff

Sr. Director of Investor Relations and Corporate Communications

(978) 326-4058

investorrelations@analogic.com

Analogic Announces Results for the Fourth Quarter and Fiscal Year Ended July 31, 2017

and Declares Quarterly Cash Dividend

Strategic Sale Process Underway; Re-Focused Investment on Core Businesses and Reduced Annual Operating Expenses by Approximately $24M; Announces Fiscal 2018 Outlook

PEABODY, Mass. (September 19, 2017)—Analogic Corporation (Nasdaq:ALOG), enabling the world’s medical imaging and aviation security technology, today announced results for its fourth quarter and year-ended July 31, 2017.

Highlights during the fourth quarter of fiscal 2017 included:

 

    Revenue of $111.6 million with gross margin of 34%

 

    GAAP operating margin of -14%; non-GAAP operating margin of -4%

 

    GAAP diluted EPS of ($1.98); non-GAAP diluted EPS of $0.00

 

    Operating cash flow of $23 million

 

    Completed Ultrasound restructuring and portfolio optimization lowering our overall annual operating expenses by $24 million

 

    Checkpoint CT system, ConneCT, recently received TSA certification, providing for U.S. airport deployment

 

    Rapid DNA Act was signed into law allowing the FBI to begin deployment process for our Rapid DNA system

Highlights for fiscal year 2017 included:

 

    Revenue of $486.4 million with gross margin of 41%

 

    GAAP operating margin of -14%; non-GAAP operating margin of 7%

 

    GAAP diluted EPS of ($5.96); non-GAAP diluted EPS of $2.22

 

    Operating cash flows of $76 million and free cash flow1 of $67 million

 

1  Free cash flow is a non-GAAP financial measure and is defined as operating cash flow minus capital expenditures. For fiscal 2017 free cash flow of $67 million equals operating cash of $76 million minus capital expenditures of $9 million. See section on “Use of non-GAAP financials measures” for further detail.

 

1


The following information was filed by Analogic Corp (ALOG) on Tuesday, September 19, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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