Powered by double-digit growth in U.S. breast health, international, and global molecular diagnostics business, women's imaging firm Hologic saw revenue increase by 5% in the first quarter of fiscal 2019 (end-December 29, 2018).
Revenue tallied under generally accepted accounting principles (GAAP) increased to $830.7 million in the first quarter, compared with $791.1 million in the same quarter a year ago. Non-GAAP revenue matched GAAP results in the first quarter of both fiscal years.
GAAP net income slipped to $98.6 million in the first quarter of fiscal 2019, compared with $406.7 million in the same quarter of fiscal 2018, when Hologic's results included a discrete net tax benefit of $329.2 million from U.S. tax reform. Adjusted non-GAAP earnings before interest, taxes, depreciation, and amortization (EBITDA) totaled $260.7 million in the first fiscal quarter of 2019, compared with non-GAAP earnings of $258.1 million in the same quarter a year ago.
Hologic increased its revenue projection for fiscal 2019 to growth of 3.8% to 4.7%, based on constant currency values, which would result in total revenue of $3.3 billion to $3.33 billion.