Hologic 2Q07 Revenues Reach $181 Million

May 3, 2007 — Hologic, Inc., a provider of diagnostic and digital imaging systems directed toward women’s health, announced that revenues for the quarter ended March 31, 2007 marked a record $181.1 million and earnings reached $21.6 million. An unprecedented 282 Selenia full field digital mammography systems installed in the period accounted for the spike in revenue, plus a line of credit reduced to zero resulted in cash balance increases to over $50 million.
Second quarter fiscal 2007 revenues totaled $181,086,000, a 79 percent increase when compared to revenues of $100,985,000 in the second quarter of fiscal 2006. For the second quarter of fiscal 2007, Hologic reported net income of $21,634,000, or $0.40 per diluted share, compared with net income of $11,164,000, or $0.24 per diluted share, in the second quarter of fiscal 2006. The improvement in quarterly earnings primarily reflects the increase in product sales of Selenia full-field digital mammography systems in the current quarter as compared to the second quarter of fiscal 2006. Included in the current quarter’s results are the operations of AEG Elektrofotografie (“AEG”), acquired on May 2, 2006, R2 Technology, Inc., acquired on July 13, 2006, and Suros Surgical Systems, Inc., acquired on July 27, 2006.
The company’s non-GAAP adjusted net income for the second quarter of fiscal 2007 increased 108 percent to $25.5 million compared to our non-GAAP adjusted net income of $12.3 million in the second quarter of fiscal 2006. Its fiscal 2007 second quarter non-GAAP adjusted net income excludes the following: a $3.7 million charge to operating expenses to amortize the intangible assets acquired from AEG, Fischer, R2 and Suros; and a $1.6 million charge for stock-based compensation expense.