Hologic posts strong 1Q results

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Huge gains in digital detector and mammography system sales produced strong numbers for the first quarter of FY05, ending Dec. 25th.
   
Revenues increased 33 percent to $66.2 million, compared with $49.9 million in the first quarter of FY04. Net income was reported at $4.6 million, compared with $1.04 million in the year-ago quarter.
   
Hologic said that its mammography revenues increased 64 percent to $36.8 million, compared with $22.5 million in the first quarter of FY04. Increasing sales of the company's digital mammography system, Selenia, and to a lesser extent, an increase in sales of analog mammography systems and MultiCare breast biopsy tables, led to higher numbers in the first quarter of FY05, Hologic said.
   
During the first quarter, Hologic installed and recognized as revenue 50 Selenia full-field digital mammography systems. As of Dec. 25th, the company's backlog for orders of Selenia was 104 systems and total backlog for all products increased to over $74 million.
   
In addition, digital detectors revenues increased 209 percent to $5.3 million, compared with $1.7 million in the first quarter of FY04. The increase was primarily due to a rise in the number of general radiography and mammography digital detectors sold to other OEMs, Hologic said.