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Intermagnetics Reports Solid Increases in Q2
Revenue, Net Income
LATHAM, NY, Jan. 3, Intermagnetics General
Corporation today reported that second-quarter normalized net income from
operations increased 25 percent to $8.5 million, or $0.30 per diluted share,
from $6.8 million, or $0.24 per diluted share, a year earlier. Reported net
income increased to $6.8 million, or $0.24 per diluted share, from $4.1 million
or $0.15 per diluted share. Revenues for the quarter ended November 27, 2005,
climbed about 18 percent to $78.1 million from $66.2 million.
For the first six months of fiscal 2006, normalized net income rose to $14.5
million, or $0.51 per diluted share, from the prior-year period's $11.2 million,
or $0.40 per diluted share. Reported six-month net income was $11.9 million, or
$0.42 per diluted share, compared with $9.4 million, or $0.34 per diluted share.
Revenue increased to $149.1 million from $117.7 million.
"Our operating segments continued to deliver strong performance during the
second quarter," said Glenn H. Epstein, chairman and chief executive officer.
"Our technology and product leadership within the overall MRI market remains the
cornerstone of our ongoing business, and we believe we remain on target to meet
our previously forecasted sales growth of greater than 15 percent, with earnings
increasing more than 20 percent compared with normalized continuing operations
last fiscal year."
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