Hologic, Inc. (NASDAQ:HOLX) Reported Wider Loss In Q4, 2013

Posted by Peter Lauro November 11, 2013 0 Comment 617 views

Hologic, Inc. (NASDAQ:HOLX), a manufacturer of diagnostics,

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medical imaging, and surgical products, has announced their fourth quarter results for the year 2013. The company”s Q4 revenues increased 5.7% to $622.1 million, compared with $588.5 million for same quarter last year. Non-GAAP revenues rose 3.7% from $600.2 million.

Net loss for the quarter ended September 28, 2013 was $1.1 billion, or a loss per diluted share of $4.11, compared with a net loss of $77.8 million, or a loss per diluted share of $0.29, in the same quarter of 2012. In addition, the non-GAAP net income was $107.6 million, or $0.39 per diluted share, compared to $98.3 million, or $0.37 per diluted share, a year ago.

For the fourth quarter, the company”s diagnostics revenues rose casino 14.4% to $290.0 million, compared to $253.4 million in the comparable period of 2012. Breast Health sales grew 1.7% to reach $234.2 million, versus $230.3 million in the previous year. The growth was driven by growth in service revenue of $3.6 million. Revenues from GYN Surgical decreased 3.8% to $76.7 million, from $79.7 million reported last year. And, lastly Skeletal Health revenues also fell 15.3% to $21.2 million, compared to $25.1 million a year ago.

Last week, FDA approved Hologic, Inc. (NASDAQ:HOLX)”s Aptima HPV 16 18/45 genotype assay on its fully-automated Panther system.

The company expects Q1, 2014 revenues in a range of $600-$610 million, which represents a decrease of 5-7% year over year; while non‐GAAP EPS is expected to be between $0.30 and $0.31. However, for full year of 2014, the company targets to achieve revenues of $2.425-$2.475 billion, a decrease of 1-3% yoy; while the non-GAAP EPS to be $1.32-$1.38.

Jack Cumming, President and Chief Executive Officer, said, “We expect fiscal 2014 to be a transitional year for the Company and we remain confident the changes we are making to enhance the organization, combined with improving trends across our portfolio of market-leading products, will drive stronger financial performance in fiscal 2015 and beyond.”

Hologic, Inc. (NASDAQ:HOLX)”s results were affected by the acquisition of its arch rival Gen-Probe Incorporated (NASDAQ:GPRO), which it acquired for about $3.97 billion in August 2012.

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