Analogic Corporation announced results for its third quarter ended April 30, 2016. Revenue for the third quarter of fiscal 2016 was $128 million.
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This is a decrease of 4% compared with revenue of $133.6 million in the third quarter of fiscal 2015. GAAP net income was $5 million, or $0.40 per diluted share, compared with net income of $9.1 million, or $0.72 per diluted share, in the third quarter of fiscal 2015.
Included in GAAP net income and EPS for the current quarter is $0.09 per diluted share restructuring charge associated with the 2016 Restructuring Plan previously announced in the fourth quarter of fiscal 2015 and $0.12 per diluted share non-cash currency charge related to balance sheet items.
Non-GAAP net income for the third quarter of fiscal 2016 was $10.1 million, or $0.80 per diluted share, compared with $13.5 million, or $1.07 per diluted share, in the prior year's third quarter.
Included in non-GAAP net income and EPS is $0.12 per diluted share non-cash currency charge related to balance sheet items. Included in both GAAP and non-GAAP net income for the third quarter of fiscal 2015 is a discrete tax benefit totaling $0.24 per diluted share. A reconciliation of GAAP to non-GAAP results is included as an attachment to this press release.
For the first nine months of fiscal 2016, revenue totaled $370.8 million, down 4% from the same period in the prior year. Fiscal year-to-date GAAP net income was $3.4 million, or $0.27 per diluted share, compared with net income of $22.6 million, or $1.79 per diluted share, from the same period in 2015.
Included in GAAP net income and EPS for the first nine months was an impact of $1.01 per diluted share, associated with the inquiry involving our Danish subsidiary, and a restructuring charge of $0.42 per diluted share.
Year-to-date non-GAAP net income was $32 million, or $2.53 per diluted share, compared with $35 million, or $2.77 per diluted share, in the same period last year. Included in both GAAP and non-GAAP net income for the first nine months of fiscal 2015 is a discrete tax benefit totaling $0.24 per diluted share. ■