Growth in service revenue and product sales propelled women's healthcare vendor Hologic to greater revenues in its fourth fiscal quarter and 2010 fiscal year (end-September 25).
However, a bevy of charges in the fourth quarter and for the fiscal year resulted in a net loss for the Bedford, MA-based vendor.
For fiscal 2010, revenues totaled $1.7 billion, compared with revenues of $1.6 billion in fiscal 2009. The advance was due primarily to growth in service revenue of $54.5 million from the company's installed base of Selenia full-field digital mammography systems, GYN Surgical product sales of $18.2 million, and Diagnostics product sales of $4.7 million.
Hologic also reported a net loss of $62.8 million in fiscal 2010, compared with a net loss of $2.2 billion in fiscal 2009. The fiscal 2010 loss was due, in part, to charges of $226.3 million for the amortization of intangible assets and a noncash interest expense charge of $73.1 million related to the company's convertible notes.
Fourth-quarter fiscal 2010 revenues totaled $428.3 million, up 6% compared to revenues of $402.8 million in the fourth quarter of fiscal 2009. Hologic credited the gain, in part, to growth in Breast Health revenues of $22.9 million, driven by an increase in service revenue related to a greater installed base of Selenia full-field digital mammography systems, and an increase in product revenues of $8.4 million, or 7%, of which $2.4 million came from Hologic's recent acquisition of Sentinelle Medical.
The company's fourth-quarter 2010 net loss was $137 million, which included $220.2 million of charges relating to the write-down of goodwill and intangible assets.
Related Reading
Hologic reports 5-year MammoSite results, November 2, 2010
FDA panel gives nod to Hologic tomosynthesis PMA, September 24, 2010
FDA panel to review Hologic tomo unit, September 23, 2010
Hologic completes Sentinelle acquisition, August 6, 2010
Hologic grows sales, though profit slips, August 2, 2010
Copyright © 2010 AuntMinnie.com
