News | August 03, 2009

Hologic Reports Revenues Totaling $403M in Q309

August 3, 2009 - Hologic Inc., a leading developer, manufacturer and supplier of premium diagnostics, medical imaging systems and surgical products dedicated to serving the healthcare needs of women, today announced its results for the quarter ended June 27, 2009.

While third quarter fiscal 2009 revenues totaled $403.1 million, the company reported a 6.1 percent decrease when compared to revenues of $429.5 million in the third quarter of fiscal 2008.
The decrease was primarily attributable to the year-over-year decline in sales of Selenia systems. We believe this decline was due in large part to the current economic environment and the resulting delays and reductions in hospital capital spending and longer sales cycles. This overall decline was partially offset by: (i) growth in Diagnostics and Surgical product sales of $24.6 million as compared to the third quarter of fiscal 2008, including revenues of $10.3 million from Third Wave, which we acquired in July 2008; and (ii) an $8.2 million, or 18.1 percent, increase in service and other revenues primarily related to our increased installed base of Selenia full field digital mammography systems.

Other highlights of the quarter include:
• Third quarter 2009 net income was $41.0 million or $0.16 per diluted share, calculated in accordance with U.S. generally accepted accounting principles (GAAP).
• Third quarter 2009 non-GAAP adjusted net income was $74.9 million or $0.29 per diluted share, and adjusted EBITDA (non-GAAP adjusted earnings before interest, taxes, depreciation and amortization) was $148.7 million. A reconciliation of GAAP to non- GAAP results is included as an attachment to this press release.
• Term loan to fund the Third Wave Technologies acquisition reduced from an initial balance of $540 million at July 24, 2008 to $270 million as of June 27, 2009 and further reduced to $214 million as of today.
• Food and Drug Administration (FDA) approval of our Adiana Permanent Contraception System on July 6, 2009.

For more information: www.hologic.com

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