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Hologic Q4 Revenues Grow 6 Percent

NEW YORK (GenomeWeb) – Hologic reported after the close of the market on Wednesday that revenues for its fiscal fourth quarter grew 6 percent year over year.

For the three months ended Sept. 26, the firm posted total revenues of $702.8 million compared to $660.6 million in Q4 2014, and ahead of the consensus Wall Street estimate of $692.1 million.

On a constant-currency basis and excluding a one-time benefit in the prior year of amending the company's agreement with Roka Bioscience, revenues grew 12 percent year over year.

Hologic noted that all four of its primary businesses grew in the US and internationally on a constant-currency basis.

Diagnostics revenue at the company fell 4 percent overall to $304.2 million from $317.2 million, but grew 4 percent on a constant-currency basis and excluding the Roka benefit. Within Diagnostics, molecular diagnostic revenues decreased 9 percent to $123.2 million at constant currency. Excluding the one-time Roka benefit from the prior year, MDx sales increased 5 percent, or 7 percent at constant currency. Growth in this segment was primarily due to continued strength across Aptima women's health products on the Panther and Tigris platforms, Hologic said.

Also within Diagnostics, blood screening revenue from Hologic's partner Grifols increased 2 percent to $60.2 million, primarily from previously reported new business with the Japanese Red Cross, the company said. Cytology and perinatal sales of $120.8 million decreased a fraction of a percent on a reported basis.

Among Hologic's other segments, Breast Health revenues totaled $286.3 million, an 18 percent jump year over year; Gyn Surgical revenues rose 11 percent to $86.8 million; and Skeletal Health rose 9 percent to $25.5 million.

Hologic posted a profit of $25.2 million, or $.09 per share, in fiscal Q4, compared to a profit of $28.2 million, or $.10 per share, a year ago. On a non-GAAP basis, EPS was $.43, beating the consensus Wall Street estimate of $.42.

Its Q4 R&D costs increased 3 percent year over year to $53.8 million from $52.1 million, while its SG&A costs rose 9 percent to $165.9 million from $152 million. Hologic also took restructuring and divestiture charges of $6.5 million for the recently completed quarter, compared to $15.1 million a year ago.

The company exited the quarter with $492.7 million in cash and cash equivalents.

For fiscal year 2015, Hologic logged $2.71 billion in revenues, up 7 percent from $2.53 billion in fiscal 2014. The company recorded a profit of $131.6 million, or $.45 per share, for fiscal 2015, compared to $17.3 million, or $.06 per share, in fiscal 2014.

For fiscal 2016, Hologic said that it anticipates revenues to be in the range of $2.81 billion to $2.84 billion, with non-GAAP EPS expected to be in the range of $1.80 to $1.84. For the first quarter of fiscal 2016, the company provided revenue guidance of between $680 million and $690 million, and non-GAAP EPS guidance of $0.41 to $0.42.