The Marlborough, Mass.-based company posted losses of $272.6 million, or $1.01 per share, on sales of $818.4 million for the three months ended March 30, seeing losses shrink 60% while sales grew 3.7% when compared with the same period during the previous year.
Adjusted to exclude one-time items, earnings per share were 58¢, just ahead of the 57¢ consensus on Wall Street, where analysts expected too see sales of approximately $806.1 million, which the company also topped.
“We posted strong results in our second fiscal quarter, with both revenues and non-GAAP EPS exceeding our guidance ranges. Growth was again driven by our largest businesses, breast health and molecular diagnostics. Our international franchises continued to perform well, our surgical division strengthened, and our recent breast health acquisitions are off to a great start,” prez & CEO Steve MacMillan said in a press release.
The company lifted its guidance for the full year, now expecting to post sales of between $3.325 billion and $3.345 billion, up from previous guidance of between $3.305 billion and $3.335 billion. The company also lifted its non-GAAP EPS from between $2.39 to $2.43 to between $2.41 and $2.44.
Shares in Hologic closed down 0.8% today at $46.01, and have not moved in after-hours trading as of 5:02 p.m. EDT.
Last month, the U.S. Court of Appeals for the Federal Circuit ruled against Hologic in a patent spat with Minerva Surgical, upholding a ruling from the U.S. Patent Trial and Appeal Board that claims on a patent Hologic owns, related to detecting perforations in body cavities during ablation, are unpatentable as obvious.