Hologic Inc. (NSDQ:HOLX) reported growth in sales and booming earnings its third quarter ended June 25, driven by increased revenues in its breast health sector, which includes its 3D mammography system.
Breast health revenues grew 8 percent to $205 million, compared to $189 million during the same period last year.
The Bedford, Mass.-based company’s one-of-a-kind Selenia 3D breast imaging device won FDA clearance in February, after a long-awaited review of the firm’s manufacturing facilities.
Hologic, which ranked 42nd in the MassDevice Big 100 list of the world’s largest medical device companies, increased its women’s health portfolio with the acquisition of Chinese medical device and diagnostics distributor TCT International Co. Ltd. for $100 million in cash, a $35 million deferred payment and an earn-out early in June.
Earnings shot up 32 percent to $36 million, or 14 cents per diluted share, compared to $27 million, or 10 cents per diluted share during the company’s third quarter of 2010.
The burst in activity was met with an increase in Hologic’s guidance for 2011 to a range of between $1.77 billion and $1.78 billion, which rose from the $1.76 billion to $1.77 billion expected prior.
Along with its Q3 earnings, the company also announced the appointment of David LaVance, Jr., as chairman of the board. LaVance has been a director since Dec. 2002 and was elected lead independent director in 2008.
MassDevice keeps a close eye on public medical device companies, tracking their quarterly sales and earnings reports. For the most recent filings, check out our Earnings Roundup, where we collect each quarter’s reports.
Here’s a quick rundown of a few releases over the past couple days:
Volcano slides in Q2
Volcano Corp. (NSDQ:VOLC) saw healthy growth in sales but shrinking profits in the three months ended June 30. The San Diego, Calif.-based diagnostics company posted a 14 percent increase in sales to $84 million, compared to $73.5 million during the same period last year.
Company profits sank 10 percent to $4.9 million, or 9 cents per diluted share, compared to $5.4 million, or 10 cents per diluted share in Q2 of 2010.
ConMed cuts costs
ConMed Corp. (NSDQ:CNMD) posted modest growth in sales and a big jump in earnings in the three months ended June 30. The Utica, N.Y.-based company reported a 1 percent increase in sales to $183 million for its second quarter, compared to $181 million for the same period last year.
Earnings jumped 19 percent to $8.7 million, or 30 cents per diluted share, from $7.3 million, or 25 cents per diluted share, for last year’s second quarter.
BD touts strong sales and earnings growth
Becton, Dickinson & Co. (NYSE:BDX) had a stellar Q2, posting a 10 percent increase in sales to $2 billion in the three months ended June 30, compared to $1.8 billion during the same period last year.
Earnings jumped nearly 12 percent to $343 million, or $1.53 per diluted share, compared to $3.7 million, or $1.29 per diluted share for Q2 last year.
eResearchTechnology blows away Q2
Philadelphia-based eResearchTechnology Inc. (NSDQ:ERT) blew up in its second quarter, posting a 47 percent increase in sales to $43 million in the three months ended June 30, compared to $29 million during the same period last year.
Earnings for the customized medical devices and clinical services company more than doubled, reaching $1.8 million, or 4 cents per diluted share, compared to $840,000, or 2 cents per diluted share, earned in the second quarter of last year.
InSite widens losses with strong sales
Ophthalmic products company InSite Vision Inc. (OTC:INSV) posted strong sales growth for its second quarter, reaching $3.1 million in the three months ending June 30, a 24 percent increase over the $2.5 million for the same period last year.
The Alameda, Calif.-based company widened losses by 13 percent, reporting a net loss of $2.8 million compared to $2.5 lost during its second quarter 2010. Shareholder value remained the same at 3 cents lost per diluted share.
The West Chester, Ohio-based company stayed in the red, however, reported losses of $950,000, or 6 cents lost per diluted share, a 25 percent bigger loss that the $760,000, or 5 cents per diluted share, lost during 2010’s second quarter.
Henry Schein touts another great quarter
Dental, medical and veterinary device company Henry Schein Inc. (NSDQ:HSIC) saw growth in sales and earning in the three months ended June 25, posting sales of $2.1 billion, a 15 percent increase over $1.8 billion sold during the same period last year.
The Melville, N.Y.-based company reported $94 million in profits, or $1.01 per diluted share, a 12 percent increase $84 million, or 90 cents per diluted share, reported during Q2 2010.
Hanger Orthopedic stays strong in Q2
Hanger Orthopedic Group Inc. (NYSE:HGR) touted strong sales and earnings for the three months ended June 30, reporting $235 million in revenue, a 14 percent increase from the $206 reported during the same time last year.
The Austin, Texas-based company saw a 58 percent leap in profits to $15.4 million, or 46 cents per diluted share, compared to $9.8 million, or 30 cents per diluted share, during the second quarter of 2010.