Hologic revenues climb 5% in Q1

Jan 30, 2011

Women's healthcare vendor Hologic of Bedford, MA, posted solid growth in revenues for its first quarter of fiscal 2011 (end-December 31), driven in part by rising service revenues from the company's installed base of mammography systems.

For the quarter, Hologic posted sales of $432.6 million, up 5% compared with sales of $412.4 million in the first quarter of 2010. The company said that it saw revenue growth of 9.1% in its Breast Health business, due to sales of its 2D/3D Dimensions mammography system, increased service revenues, sales from its acquisition of Sentinelle, and revenues from the company's Eviva breast biopsy unit. The growth was partially offset by a reduction in the number of Selenia mammography systems sold.

For the quarter, the company turned in net income of $10.9 million, compared with net income of $26.1 million in the same quarter a year ago. The current quarter's profit was affected by a one-time charge of $29.9 million related to a loss on extinguishment of debt that did not appear in last year's results. Operating income for the most recent quarter was $71.7 million, down slightly from $72 million in the corresponding quarter the year before.

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