Women's imaging vendor Hologic experienced a drop in revenues in the first quarter of the company's 2014 fiscal year (end-December 28).
For the period, revenues fell 3% to $612.4 million, compared with $631.4 million in the same period of the prior year. Hologic's net loss for the first quarter was $5.4 million, compared with net income of $3.1 million for the same period a year ago.
The company attributed the loss to the divestiture of its Lifecodes business in March 2013, which generated revenues of $12.6 million in the prior year's first quarter. Also, lower sales of its ThinPrep pap tests in the U.S. and a decline in blood screening revenues affected results. Partially offsetting these declines were increases in molecular product sales from the company's Aptima product line.
Breast health revenues grew 2.6% to $226.5 million, compared with $220.8 million a year ago. The increase was driven primarily by increased sales of 3D Dimensions systems; service revenue growth of $6 million, or 7.5%, from the growing installed base of digital mammography systems; and biopsy device sales growth as a result of market-share gains and growth in existing accounts. Partially offsetting these increases was an expected overall sales decline in 2D mammography systems as customers move to the company's 3D systems.
Hologic said it will focus on improving its operating performance and growth profile and on paying down its debt through the balance of fiscal 2014. The company expects second-quarter fiscal 2014 revenues of $605 million to $615 million.
