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What: Shares of Analogic (NAS: ALOG) popped as much as 11% this morning, after the company reported fourth-quarter earnings ahead of analysts' estimates last night.
So what: The company's fourth-quarter revenue came in at $135.3 million, an 18% year-over-year increase and ahead of the consensus estimate of $119.4 million. Bottom-line earnings per share fell to $0.45 from last year's $0.56, but still beat the $0.31 that analysts were looking for. Analogic CEO Jim Green said, "I am very pleased with our strong performance in the fourth fiscal quarter, as we achieved the sixth consecutive quarter of double-digit, year-over-year, revenue growth."
Now what: Demand has been strong for Analogic's medical imaging and security products, and fiscal 2011 was a record year for the company in terms of revenue. The company continues to focus on three primary revenue drivers: medical imaging, ultrasound, and security. Green expressed confidence that the company will be able to hit its goal of double-digit non-GAAP operating margin in the coming year, compared to the 8% non-GAAP operating margin it realized in fiscal 2011.
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