A decline in revenue in its breast health business will lead to a fiscal 2009 first quarter that's below expectations for women's imaging vendor Hologic.
Based on preliminary unaudited fiscal 2009 first-quarter results, the Bedford, MA-based vendor said that it now expects first-quarter total revenues to be approximately $428 million to $429 million, down 3% from previously issued guidance. Hologic attributed the shortfall primarily to cost pressures faced by hospitals, which have resulted in longer sales processes and delays of capital equipment purchases.
The company experienced an unprecedented decline in capital equipment demand at the end of the quarter, which impacted sales of its Selenia full-field digital mammography systems, according to chairman and CEO Jack Cumming. Hologic does expect non-GAAP adjusted earnings per share to meet or exceed initial expectations, ranging from 30¢ to 31¢.
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