Hologic Inc. credited a shift in product sales to the higher-margin digital mammography systems (Selenia) and decreased expenses in its general radiography systems business for heightened earnings in the company's second fiscal quarter, ending March 27.
Revenues advanced 11 percent to a quarterly record of $55.6 million, compared with $50.3 million in the second quarter of FY03. Net income rose to $2.6 million, up from $344,000 in the year-ago quarter.
For the six-month period, revenues totaled $105.5 million, compared with $99.3 million in the same period of FY03. Net income increased to $3.6 million, compared with a net loss of $737,000 in the year-ago period.
Hologic Chairman and CEO Jack W. Cumming said the company's investment in digital full-field mammography systems "is paying off … as breast-imaging products are driving the growth of our business."
During the second quarter, Hologic installed 35 Selenia full-field digital mammography systems. As of March 27, the backlog for orders of Selenia was 74 systems. Total backlog for all products was $53 million.
Mammography revenues in the second quarter increased 40 percent to $27.9 million, compared with $19.8 million in the second quarter of FY03.