Women's imaging vendor Hologic of Bedford, MA, saw revenue dip 6% and net income shrink in the third quarter of fiscal 2009 (end-June 27).
For the period, Hologic posted sales of $403.1 million, compared with revenue of $429.5 million in the same period of 2008. The company posted net income of $41 million in the most recent period, compared with net income of $61.4 million in the corresponding quarter of 2008.
The company said that the revenue decline was primarily due to lower sales of its Selenia full-field digital mammography system due to delays in hospital purchasing because of the recession. The decline was offset somewhat by growth in the company's Diagnostics and Surgical segment; revenues from Third Wave, which Hologic acquired in July 2008; and an increase in Selenia service revenue.
The company said that the most recent quarter included $48 million in charges related to amortization of intangibles related to its recent acquisitions of Cytyc and Third Wave, and a full quarter of costs and expenses from Third Wave. The prior year's third quarter also included $31.5 million in charges related to the Cytyc deal.
Related Reading
FDA clears Hologic mammo software, June 17, 2009
Hologic posts large loss in Q2, delays tomo review, May 5, 2009
Hologic completes Netherlands contract, March 6, 2009
Hologic grows revenue in fiscal Q1, February 3, 2009
Hologic expects Q1 revenue shortfall, January 12, 2009
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