Bolstered by growth on both U.S. and international fronts, women's imaging firm Hologic posted a 12% increase in revenue in its 2017 fiscal third quarter.
For the period (end-July 1), Hologic had revenue of $806.1 million, up from $717.4 million in the third quarter of 2016. U.S. revenue increased by 9% to $618.5 million in the quarter, while international revenue advanced 23% to $187.6 million compared with the year-ago quarter. Net income, however, slipped to $59.5 million, compared with net income of $84.8 million in the third quarter of 2016.
The company exceeded its projections for the third quarter, with its molecular diagnostics and international businesses "clearly emerging as new growth drivers," according to Hologic Chairman, President, and CEO Steve MacMillan. The company also projected total revenue of between $3.05 billion and $3.08 billion for 2017, which would represent growth of 7.7% to 8.7%, respectively, over 2016.
