Hologic posts slight Q4 revenue decrease

By AuntMinnie.com staff writers

November 1, 2021 -- Hologic posted a slight decrease in revenue for the company's fourth quarter, which it attributed to lower demand for its SARS-CoV-2 assays compared with the same period in 2020.

For the quarter (end-September 25), Hologic recorded revenues of $1.317 billion, down 2.3% compared with $1.347 billion in sales in the fourth quarter of 2020. The company's net income also fell, from $493.6 million in 2020 to $328.8 million in 2021.

Hologic saw revenue in its diagnostics business of $836.8 million, down 10.9% compared with sales of $939 million in the fourth quarter of 2020 due to lower sales of COVID-19 assays. Excluding revenues from COVID-19 tests, diagnostics sales grew 5.1% after currency adjustment.

The company's breast health division posted revenue increases of 15.6%, at $334.2 million compared with 2020's $289.2 million.

Going forward into 2022, the company expects to report annual revenue of $3.75 to $4 billion, it said.


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