Analogic Sees Q3 Non-GAAP EPS Of $0.94; Updates FY14 Outlook - Quick Facts

(RTTNews) - Electronics product maker Analogic Corp. (ALOG) reported preliminary results for its third quarter of fiscal 2014, expecting non-GAAP earnings per share of $0.94, GAAP earnings per share of $0.62 on around $124 million revenue. On average, 3 analysts polled by Thomson Reuters expect profit per share of $1.09 for the quarter. Analysts' estimates typically exclude one-time items.

Also, the firm expects GAAP operating margin of around 8% and non-GAAP operating margin of nearly 12%.

In addition, the company revised its outlook for the remainder of the fiscal year ending July 31, 2014.

Jim Green, president and CEO, commented, "While we expect that continued challenging market conditions will negatively affect our top line for the third quarter and full fiscal year, we still expect to deliver solid operating margins and positive cash flows for both periods. One factor that affected our revenues for the third quarter and is expected to impact the full year is the continued delay in airport tenders resulting in lower than previously expected sales of our security systems in this fiscal year."

Owing to the challenging market conditions and difficult year-on-year comparisons due to the exit from the legacy patient monitoring business and the reduction in funded engineering, Analogic expects net revenue for fiscal 2014 to decline mid-single digits from fiscal 2013.

Analogic expects to report its third-quarter results on June 5, 2014.