Hologic sees triple-digit net losses in Q4

Twitter icon
Facebook icon
LinkedIn icon
e-mail icon
Google icon

Hologic, a developer and supplier of diagnostics products, medical imaging systems and surgical products for women’s healthcare, has announced a large drop into black among its results for the fourth fiscal quarter, which ended Sept. 25.

The Bedford, Mass.-based company said its fiscal fourth quarter 2010 net loss was $137 million, calculated in accordance with generally accepted accounting principles (GAAP), which included $220.2 million of charges relating to the write-down of certain goodwill and intangible assets. For the 2009 fiscal fourth quarter, its net income was $24.6 million.

However, the fourth quarter revenue of $428.3 million was an increase of 6.3 percent when compared with revenues of $402.9 million in the fourth quarter of fiscal 2009.

The company primarily attributed the revenue increase to: growth in breast health revenues of $22.9 million, or 13.1 percent, driven by an increase in service revenue related to its increased installed base of Selenia full-field digital mammography systems of 29.8 percent, and an increase in product revenues of 6.7 percent, of which $2.4 million came from the recent acquisition of Sentinelle Medical; an increase in gynecological surgical revenues of 8.4 percent; and an increase in skeletal health revenues of 4.4 percent.

Yet, these gains were offset by: a decrease in diagnostics revenues of 2.9 percent, reflecting a decrease in ThinPrep revenues that were partially offset by an increase in revenues from its Third Wave product lines; and the phase out of certain products in its breast health segment, included in the above changes from prior year, which contributed $2.5 million in revenues in the fourth quarter of fiscal 2009.