Analogic Corporation (NASDAQ:ALOG) Files An 8-K Results of Operations and Financial Condition

Item2.02

On March6, 2017, Analogic Corporation (the Registrant) announced
its financial results for the fiscal quarter ended January31,
2017. The full text of the press release issued in connection
with the announcement is attached as Exhibit 99.1 to this Current
Report on Form 8-K.

The information in this Item2.02 and the Exhibit attached hereto
shall not be deemed filed for purposes of Section18 of the
Securities Exchange Act of 1934 or otherwise subject to the
liabilities of that section, nor shall it be deemed incorporated
by reference in any filing under the Securities Act of 1933 or
the Securities Exchange Act of 1934, except as expressly set
forth by specific reference in such a filing.

On February28, 2017, Analogic Corporation approved a plan of
restructuring (which we refer to as the plan) of its ultrasound
business to focus on its core markets of urology and surgery and
certain areas of the point of care market. The Company will
consolidate the activities currently conducted in Vancouver,
British Columbia with its existing operations in Copenhagen,
Denmark and Peabody, Massachusetts and plans to exit the
Vancouver facility by the end of fiscal 2017. The Company also
intends to re-size its U.S. sales, global marketing, and general
and administrative organizations in line with its objectives.
These activities will result in a workforce reduction of
approximately 130 employees, principally in its ultrasound
business.

We expect to complete the implementation of the plan by the end
of fiscal 2017. We expect to incur total pre-tax charges of up to
$5 million, consisting of (i)employee termination charges of up
to $4.3 million, of which $0.5 million was incurred in the second
quarter of fiscal 2017; and (ii)lease termination costs of up to
$0.7 million. We estimate that the plan may result in future cash
expenditures of up to $5 million.

We may incur additional non-cash impairment charges in the second
half of fiscal 2017 as we finalize the plan and determine its
impact on our business.

This Current Report on Form 8-K contains statements that are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Actual results may
differ materially from those indicated by such forward looking
statements as a result of various factors, including but not
limited to employee separation and other costs that differ from
the original estimates, the timing of future actions, and the
factors discussed in our most recent quarterly report on file
with the Securities and Exchange Commission. The forward-looking
statements represent our views as of the date of this Current
Report and should not be relied upon as representing our views as
of any future date. We specifically disclaim any obligation to
update these forward-looking statements.

About Analogic Corporation (NASDAQ:ALOG)

Analogic Corporation designs, manufactures and commercializes guidance, diagnostic imaging and threat detection technologies. The Company operates through three segments: Medical Imaging, Ultrasound, and Security and Detection. The Company’s Medical Imaging segment provides medical imaging systems and subsystems for computed tomography (CT), magnetic resonance imaging (MRI) and high-resolution digital mammography. The Company’s Ultrasound business segment provides ultrasound procedure guidance systems for the urology and surgery markets. The Company’s Security and Detection segment designs and manufactures automated threat detection systems for aviation baggage inspection applications utilizing medical CT technology and systems used for deoxyribonucleic acid (DNA) analysis for law enforcement and government agencies.

Analogic Corporation (NASDAQ:ALOG) Recent Trading Information

Analogic Corporation (NASDAQ:ALOG) closed its last trading session down -0.75 at 83.55 with 63,195 shares trading hands.