Higher R&D costs and lower product sales conspired to produce a $2.9 million net loss in the first quarter of fiscal 2000 (end-December 26) for bone densitometry and x-ray vendor Hologic of Bedford, MA. Despite the loss, the company is optimistic for future results, due to the rebound of the bone densitometry market and several new digital x-ray products soon to become available.
Hologic's net loss for the most recent quarter compares to net income of $2 million in the first quarter of fiscal 1999. The company's revenues of $21.3 million for the most recent quarter were down 13% compared with $24.6 million in sales for the same period last year. Hologic spent $2.3 million more on R&D in the most recent quarter, while product sales fell $2.8 million.
Hologic put a positive spin on the numbers by pointing out the growth that took place in the most recent quarter compared to the fourth quarter of fiscal 1998, when it had revenues of $20.1 million. The company also said its fluoroscopy division reported its fifth consecutive quarter of profitability, and product revenues from direct radiography increased approximately 75% to $1.8 million over the previous quarter. Hologic believes that two new digital x-ray systems and a new bone densitometry scanner will improve its results in upcoming quarters.
By AuntMinnie.com staff writers
January 28, 2000
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