Led by its Surgical and Molecular Diagnostic divisions, women's imaging firm Hologic reported higher revenue in the company's first quarter of fiscal 2020.
For the quarter (end-December 28, 2019), revenue increased 2.4% to $850.5 million, compared with $830.7 million in the same quarter of fiscal 2019. Excluding acquisitions and divestitures, first-quarter revenue increased by 4.1%; the revenue gain was 4.6% on a constant currency basis.
Net income, meanwhile, more than tripled to $385.8 million in the first quarter, compared with net income of $98.6 million in the same quarter of 2019. The company registered a benefit for income taxes of $288.4 million in the period.
The company's Breast Health business saw revenues grow 2% to $331.1 million for the quarter, compared with $324.7 million in the first quarter of 2019. Revenue in its Diagnostics segment advanced approximately 5% to $311.5 million, compared with $296.6 million in the first quarter of 2019.
Hologic also completed the sale of its Cynosure medical aesthetics business to an affiliate of investment funds firm managed by Clayton, Dubilier & Rice during the first fiscal quarter.
