Hologic (NSDQ:HOLX) posted third-quarter results that beat the overall consensus on Wall Street.
The Marlborough, Mass.-based women’s health and diagnostics tech company reported profits of $268.1 million, or $1.04 per share, on sales of $1.2 billion for the three months ended June 26. The results out yesterday evening represented a bottom-line gain of 96.6% on sales growth of 41.97% compared with Q3 2020.
Adjusted to exclude one-time items, earnings per share were $1.33, 21¢ ahead of The Street, where analysts were looking for sales of $1.04 billion.
“Hologic posted very strong financial results in our third fiscal quarter, with both revenue and EPS growth exceeding our guidance,” president and CEO Steve MacMillan said in a news release. “Our base businesses showed strong momentum and we continued to make a big difference against the COVID pandemic. And we used our strong cash flows to strengthen the company for the future by finalizing the Mobidiag acquisition.”
Hologic is expecting fourth-quarter revenue to be in the range of $1 billion to $1.04 billion with a non-GAAP EPS range of 92¢ to $1.00.
“As we wrap up Hologic’s best financial year in our fourth fiscal quarter, we expect strong growth in our base businesses, offset by declines in COVID testing revenue,” said Hologic CFO Karleen Oberton.
Shares in HOLX were up 2.5% to $73.88 apiece in morning trading. MassDevice‘s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, was up slightly.