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Hologic's fiscal Q3 net income climbs 7.9% YOY


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Hologic's fiscal Q3 net income climbs 7.9% YOY

Hologic Inc. reported non-GAAP EPS in the third quarter of fiscal 2019 of 63 cents, compared with the S&P Global Market Intelligence consensus normalized EPS estimate of 61 cents.

The Marlborough, Mass.-based medical-device maker's EPS rose 8.6% year over year from 58 cents. Non-GAAP net income totaled $171.6 million, reflecting an increase of 7.9% from $159.1 million in the prior-year period.

GAAP net income fell 16.8% year over year to $93.9 million, or 35 cents per share, from $112.9 million, or 41 cents per share.

Quarterly revenues climbed on an annual basis to $852.4 million from $824 million.

Hologic Chairman, President and CEO Steve MacMillan said the company's revenue and EPS exceeded expectations in the fiscal third quarter, with growth driven by the molecular diagnostics and breast health businesses.

The company expects non-GAAP EPS in the range of 64 cents to 66 cents for the fiscal fourth quarter, with GAAP EPS expected between 39 cents and 41 cents. Revenues are estimated to range between $834 million and $849 million in the period.

Hologic lifted its GAAP EPS forecast for the fiscal year 2019 to between 9 cents and 11 cents, up from the previous guidance of 6 cents to 9 cents. Non-GAAP EPS is now expected to range between $2.42 to $2.44, compared with the company's earlier expectation of $2.41 to $2.44.

For the fiscal full year, the S&P Global Market Intelligence consensus normalized non-GAAP EPS estimate is $2.42.

The company expects its revenue to range between $3.34 billion and $3.35 billion in fiscal 2019, up from the prior outlook of $3.33 billion to $3.35 billion.

Hologic manufactures diagnostics products, medical imaging systems and surgical products for women.