Boston, MA 05/09/2014 (wallstreetpr) – Second quarter results for the leading developer and supplier of Premium medical imaging systems Hologic, Inc. (NASDAQ:HOLX), reflect progress being made towards renewed focus, expected to drive organic growth. The company’s product line being led by unique 3D mammography, and Aptima HPV continued to gain momentum in the quarter. Hologic’s sale teams continue to work towards achieving primary objectives expected to spur an increase in sales in the coming quarters of the year.
Hologic Beats Estimates
Hologic’s shares surged more than 8% after reporting impressive results for the second quarter. Adjusted earnings came in at an impressive 37 cents beating estimates by 4 cents and representing a growth of 7.9%. Over the past years, the company has been pursuing an aggressive acquisition strategy that continues to prove fruitful in terms of returns. Having appointed a new CEO last year, Hologic looks to be well positioned to achieve further growth this year.
Hologic, Inc. (NASDAQ:HOLX) continues to generate huge cash flows seen by 200 million operating cash flow that was generated last year. Despite the company’s debt being slightly higher, it is still coming down as the company continues to generate increased cash flows. Cash tax payments are slightly lower allowing the company to generate enough cash to reduce the debt levels
Q2 Financial Highlights
Second quarter saw revenues surge by 2% to $625 million from $612.7 million reported last year same period. Revenue for the quarter included $10.6 million from Lifecodes that was sold in March 2013. Fluctuations in foreign exchange rates, on the other hand, added 40 basis points on revenues compared to Q2 of 2013. Net loss for the quarter beat estimates dropping from a high of $51.1 million last year to lows of $16.8 million.
Hologic, Inc. (NASDAQ:HOLX) expects its third quarter revenue to remain flat at between $615 and $625 million slightly lower compared to $626.1 million that was generated in 2013 same period. Full year guidance has consequently been risen to between $2.460 billion and $2.490 billion.
