ANALOGIC CORPORATION RESPONDS TO
L-3 COMMUNICATIONS CORPORATION’S LAWSUIT
PEABODY, MA (June 22, 2004) - On June 18, 2004, Analogic Corporation (NASDAQ:ALOG) received notice that L-3 Communications Corporation (NYSE:LLL) had filed suit against it in the State of Delaware alleging breach of contract.
For the fiscal year ended July 31, 2003, Analogic’s total sales to L-3 Communications totaled $200 million which represented 42% of Analogic’s total revenues of $471.5 million. For the three quarters ended April 30, 2004, Analogic’s total sales to L-3 Communications totaled $18.3 million which represented 7% of Analogic’s total revenues of $262.5 million.
At this time, Analogic Corporation cannot determine what impact this litigation will have on future revenues from L-3 Communications. Analogic believes that it has meritorious defenses to this suit and will defend itself vigorously.
Analogic Corporation is a leading designer and manufacturer of advanced health and security systems and subsystems sold to Original Equipment Manufacturers (OEMs). The Company is recognized worldwide for advancing the state of the art in Computed Tomography (CT), Digital Radiography (DR), Ultrasound, Magnetic Resonance Imaging (MRI), Patient Monitoring, Cardiovascular Information Management, and Embedded Multiprocessing.
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