Hologic notches record Q4 results

Increasing sales of its Selenia full-field digital mammography system produced positive results for Hologic in its fiscal fourth-quarter and fiscal year-end financial report (end-September 29).

The Bedford, MA-based company's revenues increased 60% to $738.4 million in fiscal year 2007, compared with $462.7 million in fiscal year 2006. Hologic also recognized net income of $94.6 million, compared with $27.4 million in the last fiscal year.

Fourth-quarter fiscal 2007 revenues totaled $202.6 million, up 31% from $154.1 million in the fourth quarter of fiscal 2006. Hologic's acquisition of BioLucent's MammoPad on September 18 contributed approximately $800,000 to fourth-quarter 2007 revenues. The results did not include operations from the company's acquisition of diagnostics firm Cytyc, as that deal closed on October 22.

Fourth-quarter net income was $32.1 million, compared with a net loss of $1.5 million in the same quarter a year ago. The fourth quarter of fiscal 2006 included a charge of $15.1 million for the in-process research and development costs related to Hologic's R2 Technology and Suros acquisitions, and a gain of $5.1 million from the sale of intellectual property.

Also, in 2007's fourth quarter, Hologic recognized as revenue the sale of 351 Selenia systems. As of September 29, the company's backlog of Selenia orders totaled 589 systems. Total backlog for all products was $241 million.

By AuntMinnie.com staff writers
November 6, 2007

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