Hologic completes its $4 billion acquisition of Gen-Probe and puts up solid numbers for its fiscal 3rd quarter, sending shares up nearly 3% since July 30.
The acquisition, valued at about $3.7 billion, puts Hologic in the top tier of the diagnostics space, outside of its traditional market, women's health.
Hologic said the deal should add 20¢ per adjusted share during fiscal 2013 and should be "significantly more accretive" thereafter.
News of the deal's closure, and strong fiscal 3rd-quarter numbers, has helped add 2.7% to HOLX shares since July 30. The stock closed at $18.75 yesterday, up from an $18.26 close July 30.
Hologic reported profits of $23.6 million, or 9¢ per share, on sales of $470.2 million during the 3 months ended June 23, for top-line growth of 4.2% but a bottom-line slide of 34.8%.
Adjusted for 1-time items, however, including $5.1 million in acquisition costs and a $1.7 million charge for the wind-down of its Adiana female sterilization line, EPS hit 35¢, just a penny shy of analysts' expectations.
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