Hologic posted a 27.6% decrease in revenue for its fourth quarter, which it attributed to lower sales of COVID-19 tests and supply chain challenges related to semiconductor chips for its breast health business.
For the quarter (end-September 24), the company reported overall revenue of $953.3 million, compared with $1.3 billion for the same period in 2021. Revenue for the year was $4.9 billion, compared with $5.6 billion last year.
Hologic posted net income decreases as well, reporting $118.7 million for the quarter compared with $328.8 million in 2021, and $1.3 billion for the year compared with $1.9 billion last year.
The company also reported the following for the quarter:
- Its diagnostic business decreased globally from $836.8 million to $520.9 million, a 37.8% dip.
- Its breast health division posted global revenue decreases of 8.2%, from $334.2 million in 2021 to $275.1 million this year; the company attributed this to lower gantry revenue that resulted from semiconductor chip shortages. Skeletal health revenues increased by 1.7%, from $23.6 million last year to $24 million this year.
Going forward into 2023, the company expects to post annual revenue of $3.7 to $3.9 billion, it said.
