The acquisitions of Cytyc and Third Wave added to Hologic's revenues in its fiscal year (end-September 27) but also produced a net loss for the year and the fourth quarter.
The Bedford, MA-based women's imaging vendor saw revenues grow by 127% to $1.674 billion, compared with revenues of $738.4 million in fiscal 2007 (end-September 29). Hologic recognized a net loss of $385.6 million for the year, compared with net income of $94.6 million in the previous fiscal year.
Fourth-quarter revenues totaled $442.5 million, up 118% from $202.6 million in the fourth quarter of fiscal 2007. Hologic credited the gain to approximately $195.5 million in revenues from its diagnostic, surgical, and MammoSite product lines, which were acquired in the merger with Cytyc in October 2007.
In the fourth quarter, Hologic also recognized as revenue the sale of 452 Selenia full-field digital mammography systems, including the sale of the company's first Selenia Dimensions tomosynthesis systems, which were sold internationally.
Hologic also posted a fourth-quarter net loss of $144.4 million, compared with net income of $32.1 million in the fourth quarter of fiscal 2007. The quarterly net loss was due, in part, to a $195.2 million charge for in-process R&D costs from its Third Wave acquisition and a $3.9 million charge from the cost of revenues related to the write-up of inventory to fair market value.
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