Hologic sees 124% revenue increase

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Hologic reported 2008 third quarter earnings of $61.38 million, which ended June 28, compared to $24.75 million in the same quarter of last year.

The Bedford, Mass.-based company said its revenues for the quarter were $429.49 million for the third quarter of 2008, a 124 percent increase when compared to revenues of $191.5 million in the third quarter of fiscal 2007. Hologic primarily attributed the increase to the inclusion of approximately $191.5 million of revenues from the new product lines acquired in the merger with Cytyc on Oct. 22, 2007.

During the third quarter, Hologic said its revenue was affected the sale of 429 Selenia full-field digital mammography systems. As of June 28, the company said its backlog for orders of Selenia systems was 501 systems, including ten orders for Selenia Dimensions tomosynthesis systems for international markets, and total backlog for all products was $378 million.

“While Selenia revenue units were at a record level, revenue dollars fell slightly short of our expectations. This was primarily related to a configuration change in the Selenias shipped in the third quarter. More specifically, there were fewer workstations and peripheral connectivity devices included with each Selenia sale, which had a negative impact on the average sales price per system when compared to last quarter. We do not believe this is a trend, but rather the result of an extraordinary mix of such products in the second quarter,” said Rob Cascella, president and COO.