Form 10-K Delay

PEABODY, MA (October 29, 2004) – Analogic Corporation (NASDAQ: ALOG), a designer and manufacturer of high precision health and security imaging equipment, today announced that it will not file its Annual Report on Form 10-K for the fiscal year ended July 31, 2004 with the SEC, by October 29, 2004. The Company filed a Form 12b-25 (Notification of Late Filing) with the SEC on October 14, 2004 seeking a 15-day extension to file its Annual Report on Form 10-K, which was originally due on October 14, 2004.

As previously reported, in the course of preparing its Annual Report on Form 10-K, the Company further evaluated certain information leading it to question whether appropriate revenue recognition procedures had been followed in all cases by its Camtronics Medical Systems subsidiary, a supplier of advanced cardiac information management systems. The Company has been conducting and continues to conduct a review of certain Camtronics transactions and the revenue recognition procedures followed. While the review had initially focused on the fourth quarter of fiscal 2004, the Company has expanded its review to encompass certain transactions in prior quarters of fiscal 2004. This review has led to a delay in the Company completing the preparation and audit of its financial statements for the fiscal year ended July 31, 2004. The Company is working diligently to complete its review and file its Annual Report on Form 10-K with the SEC at the earliest possible date. Camtronics’ revenues are expected to account for less than twenty percent of the Company’s revenues for fiscal 2004.

Analogic Corporation is a designer and manufacturer of advanced health and security systems and subsystems. The Company is recognized worldwide for advancing the state of the art in Computed Tomography (CT), Digital Radiography (DR), Ultrasound, Magnetic Imaging (MRI), Patient Monitoring, Cardiovascular Information Management, and Embedded Multicomputing.