Hologic Announces Fourth Quarter and Fiscal 2010 Operating Results

Mon, 11/08/2010 - 1:38pm

BEDFORD, Mass., Nov. 8, 2010 /PRNewswire-FirstCall/ -- Hologic, Inc. (Hologic or the Company) (Nasdaq: HOLX), a leading developer, manufacturer and supplier of premium diagnostics products, medical imaging systems and surgical products dedicated to serving the healthcare needs of women, today announced its results for the fourth fiscal quarter and fiscal year ended September 25, 2010.

Highlights of the quarter include: Revenues of $428.3 million. Fourth quarter 2010 net loss was $137.0 million, or $0.53 per diluted share, calculated in accordance with U.S. generally accepted accounting principles (GAAP). This net loss included $220.2 million of charges relating to the write-down of certain of the Company's goodwill and intangible assets. Fourth quarter 2010 non-GAAP adjusted net income was $79.3 million, or $0.30 per diluted share, and adjusted EBITDA (non-GAAP adjusted earnings before interest, taxes, depreciation and amortization) was $153.0 million. A reconciliation of GAAP to non-GAAP results is included as an attachment to this press release. Unanimous vote by the Radiological Devices Panel of the U.S. Food and Drug Administration (FDA) on September 24, 2010, that the Company's Pre-Market Approval (PMA) demonstrated both the safety and efficacy of the Company's Selenia Dimensions three-dimensional (3-D) digital breast tomosynthesis system. The Panel also voted in favor that the benefits of this new technology outweigh the risks. Sale of the 3-D version of this system in the United States remains subject to FDA approval. Completion of the Sentinelle Medical Inc. acquisition on August 5, 2010. Operating impact on the quarter was to reduce earnings per share by $0.01.

Fourth quarter fiscal 2010 revenues totaled $428.3 million, an increase of 6.3% when compared to revenues of $402.8 million in the fourth quarter of fiscal





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