The Bedford, Mass.-based women’s health company posted profits of $11.3 million, or 4¢ per share, on sales of $632.6 million, compared with losses of -$11 million, or -4¢ per share, on sales of $626.1 million during the same period last year.
Adjusted to exclude 1-time items, profits were $102.4 million, or 37¢ per share, 3¢ ahead of expectations on Wall Street; analysts were looking for revenues of $621.9 million.
"Our fiscal 3rd-quarter results demonstrate the progress we are making in our turnaround efforts," president & CEO Stephen MacMillan said in prepared remarks. "Key contributors were the performance of our 3D mammography business, service associated with our large and growing installed base of digital mammography systems, our molecular diagnostics business lines, and our surgical business. With the landmark publication in JAMA of the first-large scale U.S. study demonstrating the benefits of our 3D mammography technology, we are now even more confident that our 3D mammography has very bright prospects and will be a significant driver of value creation for Hologic shareholders."
Hologic boosted both its sales outlook and earnings guidance for the rest of fiscal 2014, saying it now expects to post adjusted EPS of $1.44 to $1.45, up from prior guidance of $1.37 to $1.40 per share. Fiscal 2014 revenues are forecast to be between $2.50 billion and $2.51 billion, up from $2.46 billion to $2.49 billion. A 1-time contingent revenue gain from an amended licensing agreement with Roka Bioscience (NSDQ:ROKA) will add $20 million to the top line during the 4th quarter, Hologic said. Including that contribution, the company forecast adjusted EPS of $1.49 to $1.50 on sales of $2.52 billion to $2.53 billion.
Fourth-quarter adjusted EPS are predicted to be between 36¢ and 37¢ on sales of $630 million to $640 million; including the Roka licensing payment, adjusted EPS are pegged at 41¢ to 42¢ on sales of $650 million to $660 million, according to a press release.
The news sent HOLX shares up to a new year-long high of $26.75 yesterday before they settled back down to close at $26.07, down 0.4% on the day.