ALOG Big Order:
Analogic Corporation Receives Major Order for EXplosive Assessment Computed
Business/Technology Editors
PEABODY, Mass.--(BUSINESS WIRE)--April 3, 2002--Bernard M. Gordon,
Executive Chairman and Chairman of the Board of Analogic Corporation
(NASDAQ: ALOG), announced today that the Company has received an
open-ended order for up to 1,000 of its EXplosive Assessment Computed
Tomography (EXACT(TM)) Systems from an Original Equipment Manufacturer
(OEM). The EXACT is the "heart" of a certified Explosive Detection
System (EDS) that is being purchased by the U.S. Government and
installed at major airports across the U.S. This contract, the largest
in the Company's thirty-three years, has a potential value of
approximately five hundred million dollars, including spare parts,
associated services, and infrastructure enhancements.
Mr. Gordon said, "These extremely sophisticated machines represent
the state of the art in imaging technology. The initial release will
be for approximately one hundred million dollars, including initial
units and spare parts, long-lead-time components for the next release,
and services. Funding is also included for Analogic to quickly ramp up
production and significantly increase its manufacturing capacity in
preparation for additional releases. This initial release is our
largest security imaging order since the Company began focusing a
portion of its development efforts on advanced security imaging
technology. We believe there will be additional releases in the next
several months as the necessary funding is authorized."
The Company, recognized as a leader in medical imaging technology
for more than a quarter century, has invented and designed CT-related
imaging equipment valued at several billions of dollars over the
years. The EXACT is the world's first multi-slice, dual-energy,
helical-cone-beam CT scanner, and the core of the first single-unit,
second-generation CT system certified by the Federal Aviation
Administration (FAA) to scan checked luggage for aircraft.
Gordon noted, "We believe the Company can play an increasingly
important role in providing advanced security imaging technology. As
mentioned in our recent quarterly conference call, we have also
received a substantial order for advanced CT data acquisition systems
from the other manufacturer of certified Explosive Detection Systems.
We are also completing development of two other explosive detection CT
imaging systems for OEM customers. The `ARGUS' systems, designed to
meet the needs of smaller, regional airports, are being prepared for
certification testing in the near future."
The Company will conduct a conference call on Thursday, April 4 at
9:30 a.m. ET to discuss this order and opportunities for advancing
security imaging technology. The call will be available via a webcast.
To listen to the webcast visit www.analogic.com approximately five to
ten minutes before the conference is scheduled to begin. The replay of
the conference call webcast will be archived at www.analogic.com
approximately three hours after the call is completed and will be
available until Thursday, April 18.
A telephone digital replay will be available approximately two
hours after the call is completed until the end of the business day on
Friday, April 5. To access the digital replay, dial 1-800-642-1687.
The conference ID number is 3702068.
For more information, visit www.analogic.com, call 978-977-3000,
x3213, or email proberts@analogic.com.
Fred |
