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Hologic sales, profit beat views

May 10, 2017

Hologic (HOLX) crushed Wall Street’s fiscal second-quarter revenue and profit expectations late Wednesday, led by double-digit growth in its molecular diagnostics and gynecological surgery units.

In after-hours trading on the stock market today, Hologic stock popped 2.1% after closing up less than 1%, at 45.96. Shares are up 50% for the year following Hologic’s acquisition of body-sculpting firm Cynosure. Cynosure is a rival of Zeltiq, which was recently acquired by Allergan (AGN).

For the second quarter ended April 1, Hologic reported adjusted income of 50 cents a share on revenue of $715.4 million. Earnings grew 6.4% on a year-over-year basis and topped by 4 cents. Sales were up 3.8% and beat the $685.4 million view.

Hologic’s molecular-diagnostics segment led the quarter, growing 12.6% to $142.1 million, comprising about 20% of total sales. Gynecological surgery revenue followed, up 11.2% to $101.1 million. But sales from skeletal health fell 1.6%.

This quarter, Hologic sold its blood-screening business to Grifols (GRFS). For part of the quarter before its sale, the blood-screening business brought in $38.3 million. Medical aesthetics, the unit created by the Cynosure acquisition, accounted for $16 million.


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