Financial news: Hologic, Kodak Health Group, QuadraMed Corporation

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Hologic saw Q1 fiscal 2007 revenues of $163.2 million in fiscal Q1 2007, an 86 percent increase, compared to revenues of $87.9 million during the period in fiscal 2006. The company saw net income of $16.08 million, compared with net income of $5.7 million in Q1 2006. The company attributes the improvement in quarterly earnings primarily to an increase in product sales of Selenia full-field digital mammography systems. Hologic non-GAAP adjusted net income fiscal Q1 2007 increased 116 percent to $20.2 million compared to non-GAAP adjusted net income of $9.4 million in the first quarter of fiscal 2006.

Kodak Health Group reported Q4 2006 earnings from operations of $86 million, compared with $87 million a year ago, despite substantial costs associated with the divestiture effort and increased costs for silver. Sales for this segment were $660 million, down 6 percent. Highlights for the quarter included sales increases in Healthcare Information System, digital dental products, and digital capture, offset by declines in traditional radiography and digital output, the company said.

Onex Corporation recently announced plans to purchase the business for as much as $2.55 billion. Upon completion of the transaction in the first half of 2007, the business will be renamed Carestream Health.

QuadraMed Corporation announced that sales bookings for the year ended December 31, 2006 totaled $84 million, representing a 25 percent increase compared to the sales bookings reported for the same period in 2005. Sales bookings highlights for QuadraMed’s 2006 fiscal year include:
  • Sales bookings totaling $84 million compared to $67 million in fiscal 2005;
  • Two new enterprise Affinity HIS (Hospital Information System) sales;
  • A $3.4M contract with Inova Health System for Smart Identity Management Solutions, and an overall increase in related Identity Management solutions bookings; and
  • A $20.5M contract for HIM related products and services with the Department of Veterans Affairs to provide an advanced solution for all 147 VA hospitals nationwide.