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adobe pdf icon Analogic Corporation Announces Restructuring to Align Business with Current Market Conditions

Analogic Corporation Announces Restructuring to Align Business with Current Market Conditions

Analogic Corporation Announces Restructuring to Align Business with Current Market Conditions

PEABODY, Mass., Jan 28, 2009 (BUSINESS WIRE) — Analogic Corporation (NASDAQ: ALOG), a leading provider of medical
imaging and aviation security technology, announced today that it will
reduce its workforce by approximately 140 positions or 9% worldwide as
global economic conditions continue to put pressure on healthcare
capital equipment markets. This reduction in force along with other cost
reduction initiatives will result in the company avoiding costs of
approximately $9.6 million on an annual basis. The company expects to
take a restructuring charge of $3.4 million during the second fiscal
quarter.

Jim Green, President and CEO, commented, “Today’s economic conditions
require Analogic to align its cost structure to existing market
conditions. However, we remain committed to our core markets in medical
imaging and aviation security and will continue investing in
technologies that position Analogic for profitable growth.”

Forward-Looking Statements

This press release contains the Company’s or management’s intentions,
hopes, beliefs, expectations, or predictions. These are considered
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking statements
(statements that are not historical facts) in this presentation are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Investors are cautioned that all
forward-looking statements, including statements about product
development, market and industry trends, strategic initiatives,
regulatory approvals, sales, profits, expenses, price trends, research
and development expenses and trends, and capital expenditures involve
risk and uncertainties. Actual results may differ materially from those
indicated by such statements as a result of various factors, including
those discussed in the Company’s periodic reports filed with the SEC
under the heading “Business Environment and Risk Factors.” In addition,
the forward-looking statements included in this press release represent
the Company’s views as of January 28, 2009.

The Company anticipates that subsequent events and developments will
cause the Company’s views to change. However, while the Company may
elect to update these forward-looking statements at some point in the
future, the Company specifically disclaims any obligation to do so.
These forward-looking statements should not be relied upon as
representing the Company’s views as of any date subsequent to January
28, 2009.

About Analogic Corporation

Analogic Corporation is a leading designer and manufacturer of advanced
health and security systems and subsystems sold primarily to Original
Equipment Manufacturers (OEMs). The Company is recognized worldwide for
advancing the state of the art in Automatic Explosives Detection,
Computed Tomography (CT), Digital Radiography (DR), Ultrasound, Magnetic
Resonance Imaging (MRI), Patient Monitoring, and Advanced Signal
Processing. For more information, visit www.analogic.com.

SOURCE: Analogic Corporation

Analogic Corporation
John Millerick, 978-326-4000
Senior Vice President, CFO and Treasurer
or
Mark Namaroff, 978-326-4058
Director of Strategic Marketing
and Investor Relations
mnamaroff@analogic.com