Powered by growth in its Diagnostics and Breast Health units, women's imaging vendor Hologic increased total revenue in the company's third fiscal quarter.
For the quarter (end-June 29), revenue advanced 3.4% to $852.4 million, compared with $824 million in the same quarter of fiscal year 2018. The company's net income, however, dipped to $93.9 million in the quarter, compared with net income of $112.9 million in the third quarter of 2018.
The Breast Health business contributed a 5.7% gain to revenue of $325.4 million, compared with $307.9 million in the third quarter of fiscal 2018. In addition, Diagnostics brought in $305.4 million in the third quarter, up from the $294.2 million in revenue in fiscal 2018's third quarter.
For the nine-month period, total revenue rose by 4% to $2.501 billion, compared with $2.405 billion in the same period of fiscal 2018. Hologic reported a net loss for the nine months of $80.1 million, compared with a net loss of $161.8 million in the same period of the previous fiscal year.
"We posted strong financial results in our third fiscal quarter, with both revenue and earnings per share exceeding our guidance, as our pipeline of new products continues to grow," said Steve MacMillan, Hologic's chairman, president, and CEO. "Growth was driven by our Molecular Diagnostics and Breast Health businesses, which continued their strong recent trends."
