Hologics net income slips in Q3

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Hologic, a developer and supplier of diagnostics products, medical imaging systems and surgical products for women’s healthcare, has announced a slightly lower net income for the third fiscal quarter, which ended June 26.

Compared with a net income of $30.75 million in the third quarter of 2009, the Bedford, Mass.-based company declared a net income of $27.45 million in the third quarter of 2010, based on generally accepted accounting principles.

Third quarter fiscal 2010 revenues totaled $420.7 million, an increase of 4.4 percent when compared to revenues of $403.1 million in the third quarter of fiscal 2009.

Hologic attributed the increase to:

  • Growth in breast health revenues of $14.5 million, or 8.3 percent, driven by an increase in service revenue related to the increased installed base of Selenia full-field digital mammography systems of $13.1 million, or 28.8 percent, and an increase in product revenues of $1.4 million, or 1.1 percent; and
  • GYN surgical revenues up $5.7 million, or 8.7 percent.

However, the company said the gains were offset by:

  • A decrease in diagnostics revenues of $2.2 million, or 1.5 percent, reflecting a decrease in Thin Prep revenues that were slightly offset by an increase in revenues from its Third Wave product lines;
  • A decline in skeletal health revenues of $500,000, or 2.1 percent; and
  • The phase out of certain products, which contributed $3.7 million of revenues in the third quarter of fiscal 2009.