News | July 30, 2008

Hologic 3Q08 Revenues Rise 124 Percent

July 31, 2008 – Hologic Inc. disclosed its third quarter fiscal 2008 operating results, reporting it reined in revenues totaling $429.5 million, a 124 percent increase compared to revenues of $191.5 million in the third quarter of fiscal 2007.

The surge in revenues was primarily attributable to the inclusion of approximately $191.5 million of revenues from the new product lines acquired in the merger with Cytyc Corporation on October 22, 2007.

For the third quarter of fiscal 2008, Hologic reported net income of $61.4 million, or $0.24 per diluted share, compared with net income of $24.7 million, or $0.22 per diluted share, in the third quarter of fiscal 2007. Included in the third quarter of fiscal 2008 results were charges relating to the Cytyc merger of $25.1 million attributable to the amortization of intangibles and a restructuring charge of $6.4 million in connection with the resignation of the Company’s Executive Chairman in May 2008. Earnings per share information for 2007 have been restated to reflect the Company's 2-for-1 stock split effected on April 2, 2008.

The Company’s non-GAAP adjusted net income for the third quarter of fiscal 2008 increased 209 percent to $84.9 million compared to the Company’s non-GAAP adjusted net income of $27.5 million in the third quarter of fiscal 2007. The Company’s fiscal 2008 third quarter non-GAAP adjusted net income excludes a $30.6 million charge to operating expenses to amortize the intangible assets acquired from Cytyc, AEG, BioLucent, Fischer, R2 and Suros and the $6.4 million restructuring charge.

Non-GAAP adjusted net income and non-GAAP adjusted EPS are non-GAAP financial measures. A reconciliation of adjusted net income and adjusted EPS to the Company’s net income (loss) and EPS for the third quarter and first nine months of fiscal 2008 and 2007 is set forth in the supplemental disclosure schedule attached to this press release. When analyzing the Company’s operating performance, investors should not consider these non-GAAP measures as a substitute for net income and EPS prepared in accordance with GAAP.

During the third quarter, Hologic recognized as revenue the sale of 429 Selenia full-field digital mammography systems. At June 28, 2008, the Company’s backlog for orders of Selenia systems was 501 systems, including ten orders for Selenia Dimensions tomosynthesis systems for international markets, and total backlog for all products was $378 million.

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