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.
"We began fiscal 2013 with great promise and we are confident our combination with Gen-Probe positions us to continue creating significant value for all of our stakeholders," president & CEO Rob Cascella said in prepared remarks. "During the quarter, we leveraged our expanded product portfolio to drive year-over-year growth in our diagnostics, breast health and GYN surgical segments. We are executing the strategy we outlined at the beginning of the year and we believe we are well positioned to build on our momentum for the remainder of fiscal 2013 and beyond."
Hologic said it expects fiscal Q2 adjusted EPS of 33¢-34¢, less about 2¢ from the medical device tax. Adjusted revenues are expected to be between $635 million and $640 million, excluding an expected purchase accounting reduction of $5.2 million related to a Gen-Probe collaboration with Novartis.
For the full year, adjusted revenues are slated to run between $2.61 billion and $2.64 billion, with adjusted EPS of between $1.58 and $1.60, up 2¢ over prior guidance due to the reinstatement of the federal research tax credit.
HOLX shares closed down 2.0% at $23.25 today.