text: Analogic Corp. ends "most challenging" year in company's history with a loss - MassDevice
  Home » Analogic Corp. ends "most challenging" year in company's history with a loss
  Analogic Corp. ends "most challenging" year in company's history with a loss
  Analogic Corp. ended what officials called the company's "most challenging year" in its more than 40-year history by swinging to a loss in the fourth quarter.
  The Peabody medical imaging products maker reported a net loss of $285,000 for the three months ended July 31, compared to a $3.3 million profit for the same period last year.
  The bottom line impact of costs associated with the closing of a facility in Canton, Mass., which resulted in layoffs of more than 85 workers, totaled $3.1 million in charges during the fourth quarter, according to new CFO Michael Levitz.
  Total sales for the period were $98.3 million, down 16 percent from the same period last year, as the company's medical imaging business fell off 24 percent. Cuts in hospital spending continued to weigh heavily on the capital equipment market.
  Gross margins for the company also fell about 4 percent, dropping to under 31 percent.
  In a conference call with investors, president and CEO Jim Green called 2009 "the most challenging year in the company's history," before saying that the company was "well positioned for growth" in the coming year.