Hologic (NSDQ:HOLX) posted fourth-quarter results today that handily beat the consensus forecast on Wall Street, concluding an impressive year of growth on the back of robust COVID-19 testing revenue.
The Marlborough, Massachusetts–based diagnostics and women’s health company reported quarterly profits of $328.8 million — or $1.28 per diluted share — on sales of nearly $1.32 billion for the three-month period ended Sept. 25, 2021.
Fourth-quarter sales were down about 2% compared with Q4 2020, and net income was down about 33% in the fourth quarter.
Adjusted to exclude one-time items, quarterly earnings per diluted share were $1.61, 60¢ ahead of Wall Street, where analysts were looking for adjusted EPS of $1.01 on sales of $1.04 billion.
Hologic’s full-year profits came in at $1.87 billion — or $7.79 per diluted share — on sales of almost $5.63 billion for fiscal 2021. Full-year sales were up about 49% compared with 2020, and net income was up nearly 68%.
Hologic’s adjusted, diluted EPS for the full year of $8.41 exceeded analyst expectations of $7.79 for the year on anticipated sales of $5.34 billion.
“Our excellent top- and bottom-line results in the fourth quarter of fiscal 2021 exceeded expectations and capped off a remarkable year,” Hologic CEO Steve MacMillan said in a news release.
Hologic said it expects to log adjusted EPS of $1.15 to $1.25 in the first quarter of 2022 on $1.1 billion to $1.15 billion in revenue and adjusted EPS of $3.55 to $3.85 for the full fiscal year on $3.75 billion to $4 billion.
“We expect strong financial results in fiscal 2022, with solid growth in our core women’s health businesses and a meaningful contribution from COVID-19 testing,” Hologic Chief Financial Officer Karleen Oberton said in the news release.
Investors reacted by sending HOLX shares up less than 1% to $73.10 in after-hours trading.