Hologic this week reported a 3 percent year-over-year decline in fiscal first-quarter revenues, including a 7 percent drop in revenues in its Diagnostics division.

However, the company saw a silver lining in its molecular diagnostic product sales — essentially the remnants of its 2012 acquisition of Gen-Probe — which decreased 8 percent on a non-GAAP basis but increased 3 percent on a GAAP basis, buoyed especially by a women's health testing supply agreement it struck last year with Quest Diagnostics.

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