Analogic Hits Year-Long Peak over Q2 Results

Analogic Corporation (NASDAQ: ALOG) shares rose Tuesday following strong Q2 results.

The Peabody, Mass.-based company reported Tuesday thatevenue for the second quarter of fiscal 2018 was $129.2 million, a decrease of 2% compared with revenue of $131.5 million in the second quarter of fiscal 2017.

GAAP net income for the second quarter of fiscal 2018 was $6.5 million, or $0.52 per diluted share, compared with net income of $7.5 million, or $0.59 per diluted share, in the second quarter of fiscal 2017.

Included in GAAP net income and diluted EPS for the second quarter of 2018 is a provisional $6.5 million income tax expense, or $0.51 per diluted share, for the one-time transition tax associated with the Tax Cuts and Jobs Act of 2017 that was recently signed into law.

Also included in GAAP net income and diluted EPS for the second quarter of fiscal 2017 were one-time net charges of $2.2 million, or $0.11 per diluted share, in connection with our Oncura veterinary business.

CEO Fred Parks Fred Parks commented, “We continue to pursue our previously announced strategic sale process. In view of the status of that process, we are not commenting on our fiscal year guidance or other forward-looking performance measures.”

Analogic boasts about how it "provides leading-edge healthcare and security technology solutions to advance the practice of medicine and save lives."

The company’s shares popped $9.05, or 10.7%, to $94.00, a new 52-week high, towering over a low of $66.00.