Hologic sees strong revenue growth, sales in Q1 fiscal 2006

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Hologic Inc. saw strong growth for the first quarter fiscal 2006 - with record revenue, increased net income, and positive results in sales of full field digital mammography systems and other areas, the company said.

First quarter fiscal 2006 revenues totaled $87.96 million, a 33 percent jump from the $66.18 million posted in the same period of fiscal 2005. Hologic reported net income of $5.72 million in the period, compared with $4.57 million in the same period in 2005. The improvement in quarterly earnings primarily reflects the increase in product sales of Selenia digital mammography systems, Hologic said.

During the first quarter of FY 2006, Hologic sold 97 Selenia full-field digital mammography systems. As of late December, the company had a backlog of 221 Selenia systems. Total backlog for all products increased to $140 million, the highest quarterly backlog in Hologic's history and a 37 percent improvement over the backlog over the previous year.

Beginning in fiscal 2006, Hologic has three reporting segments: Mammography, Osteoporosis Assessment and all others. Following is a first quarter financial overview by segment:

  • Mammography revenues went up 49 percent to $62.78 million for the first quarter of fiscal 2006 from $42.1 million for the same period in fiscal 2005;
  • Osteoporosis assessment revenues increased 17 percent to $20.02 million for the first quarter of fiscal 2006 from $17.16 million for the same period in fiscal 2005;
  • All other revenues, which include the company's mini C-arm, extremity MRI, conventional general radiography service and digital general radiography systems businesses decreased 25 percent to $5.16 million for the first quarter of fiscal 2006 from $6.92 million for the same period in fiscal 2005. The company shipped fewer digital general radiography systems, as this business has almost been completely phased out, Hologic said.