Medical imaging firm Hologic released mixed first-quarter financial results today, increasing both its net loss and its revenue compared to last year. The Bedford, MA-based firm reported a net loss of $6.8 million for the quarter (end December 30), up sharply from the net loss of $2.9 million reported for the same quarter last year. At the same time, the mammography and general radiography businesses it acquired last year were credited with increasing total revenue to $44.6 million for the quarter, compared with $21.3 million in the first quarter of fiscal 2000.
The firm would have posted an operating profit for the quarter were it not for losses incurred at its Direct Radiography subsidiary, the amortization of goodwill, and the impact of the write-up in value of the mammography and general radiography assets related to its acquisition of Trex Medical in September 2000, the company said.
According to David Ellenbogen, Hologic's chairman and CEO, the firm has made significant progress in the integration of its new businesses, and has begun to reap the benefits of improved efficiencies, streamlined operations, and aggressive marketing of new product lines.
By AuntMinnie.com staff writersFebruary 6, 2001
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Hologic revenues grow, but loss widens due to Trex acquisition, November 16, 2000
Hologic completes Trex acquisition, September 18, 2000
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