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.

For more information: www.hologic.com

Related Content

Sponsored Content | Videos | Breast Imaging | July 28, 2017
Nancy Cappello, Ph.D., executive director and founder of Are You Dense Inc. and Are You Dense Advocacy, explains how
Volpara Solutions to Showcase Volpara Enterprise DDP Software at AHRA 2017
News | Mammography | July 11, 2017
Volpara Solutions Inc. will showcase its new Volpara Enterprise DDP software at the Association for Medical Imaging...
Fujifilm Showcases Digital Radiography, Mammography Innovations at AHRA 2017
News | Digital Radiography (DR) | July 06, 2017
Fujifilm Medical Systems U.S.A. Inc. will present its comprehensive portfolio of digital radiography (DR) and...
Solis Mammography Ranks No. 19 in Dallas Business Journal’s Middle Market 50
News | Mammography | June 30, 2017
June 30, 2017 — Solis Mammography was named the 19th fastest-growing, middle-market company in North Texas by the
GE Healthcare Announces First U.S. Installation of Senographe Pristina Mammography System
News | Mammography | June 29, 2017
GE Healthcare has collaborated with Boca Raton Regional Hospital (Boca Raton, Fla.) to bring a more comfortable...
New Study Highlights Breakthrough Therapy to Reduce Mammographic Breast Density
News | Breast Density | June 28, 2017
Stephen N. Birrell, M.D., Ph.D., presented breakthrough findings into the reduction of mammographic breast density at...
Therapixel Wins the Digital Mammography Challenge
News | Mammography | June 23, 2017
June 23, 2017 — French radiology technology company Therapixel was recently named the winner of the Digital Mammograp
MRI Plus Mammography Improves Detection of New Breast Cancer After Surgery
News | Breast Imaging | June 22, 2017
A new article published by JAMA Oncology compares outcomes for combined mammography and magnetic resonance imaging (MRI...
mammogram

Photo courtesy of Barco

News | Mammography | June 08, 2017
An analysis of breast cancer data revealed that many small breast cancers have an excellent prognosis because they are...
News | Mammography | June 07, 2017
Hologic, Inc. announced that the Genius 3D Mammography exam is now the only mammogram that is FDA-approved as superior...
Overlay Init