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Hologic's fiscal Q1 profits dive on Gen-Probe acquisition costs

Mon, 02/04/2013 - 5:45pm
Mass Device

Profits for Hologic during its fiscal 1st quarter plunge some 85% as it digests its $4 billion merger with Gen-Probe and raises its earnings outlook for the full fiscal year.

Hologic

Hologic (NSDQ:HOLX) saw its fiscal 1st-quarter profits plunge 85% on costs related to its $4 billion buyout of diagnostics giant Gen-Probe, despite nearly 34% top-line growth.

The Bedford, Mass.-based women's health company reported profits of $3.1 million, or 1¢ per share, on sales of $631.4 million during the 3 months ended Dec. 29, 2012, for a bottom-line slide of 85.0% but top-line growth of 33.6% compared with its fiscal 1st quarter last year.

Adjusted to exclude some $101.8 million in 1-time items, largely associated with the Gen-Probe acquisition, earnings per share were 38¢, a penny ahead of Wall Street's expectations.

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