Women's imaging vendor Hologic said its revenue more than doubled for the first quarter of 2008 (end-December 29) as the addition of sales from its recent acquisition of Cytyc boosted top-line growth.
First-quarter fiscal 2008 revenues for the Bedford, MA-based firm totaled $371.4 million, a 128% increase compared to revenues of $163.2 million in the first quarter of fiscal 2007. The company attributed the increase to the inclusion of revenues from its merger with Cytyc, for the period from October 22, 2007 (the merger date), to December 29, 2007, which approximated $158 million.
In connection with the Cytyc merger, Hologic added two new operating segments and combined a number of previous operating segments. The company now has four reporting segments: breast health (formerly mammography/breast care), diagnostics, gyn surgical, and skeletal health.
Breast health revenues increased 43% to $197 million for the first quarter of fiscal 2008, from $137.6 million for the same period in fiscal 2007. This increase was primarily due to continued increasing sales of the Selenia full-field digital mammography system, together with R2 computer-aided detection software and the inclusion of the recently acquired MammoSite product from Cytyc.
Skeletal health revenues decreased to $24.3 million for the first quarter of fiscal 2008 from $25.6 million for the same period in fiscal 2007. This decrease was primarily due to a reduced number of bone densitometry systems sold and a slight shift to lower-end bone densitometry systems with lower average selling prices, Hologic said.
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