Hologic (NSDQ:HOLX) raised its fiscal 2015 revenue forecast for the 2nd time this fiscal year as growth continued, profit gains accelerated and its 2nd-quarter net income topped Wall Street’s expectations.
The Bedford, Mass.-based company said it now expects to post adjusted earnings per share of $1.57 to $1.59, up from prior guidance of $1.54 to $1.57, and boosted its fiscal 2015 sales outlook from $2.57 billion to $2.60 billion to $2.60 billion to $2.62 billion.
Investors reacted by driving the stock up 3.3% to a $33.74 close yesterday. HOLX shares were trading at $34.13 apiece in mid-morning activity today, up 1.2%.
"We posted strong organic revenue growth across the board for a second straight quarter, while profitability increased at an even faster rate. While we focus on continuing to improve our performance, we are increasingly confident in our people and products, and are therefore further raising our financial outlook for the year," president & CEO Steve MacMillan said in prepared remarks.
Hologic posted profits of $47.8 million, 17¢ per share, on sales of growth of 4.9% to $655.5 million for the 3 months ended March 28, compared with losses of -$16.8 million, or 6¢ per share, during Q2 2014.
Adjusted to exclude 1-time items, earnings were 41¢ per share, 2¢ ahead of The Street.
Hologic reported gains across all its businesses, with its diagnostics arm growing 2.0% to $296.7 million. Breast health revenue rose 7.0% to $255.5 million, gyn-surgical sales rose 9.8% to $79.1 million and skeletal health – Hologic’s smallest division – saw sales growth of 3.3% to $24.2 million.