Key Developments For Hologic Inc
Hologic Inc (HOLX.O) (Nasdaq)
Hologic, Inc. Issues Q1, FY 2010 Outlook Below Analysts' Estimates; Promotes Robert Cascella To CEO
Hologic, Inc. announced that for the first quarter of 2010, it expects revenues to be approximately $400 to $405 million, earnings per share (EPS) to be approximately $0.06 to $0.08 and non-GAAP adjusted EPS to be approximately $0.24 to $0.26. For fiscal 2010, the Company expects revenues to be approximately $1.625 to $1.650 billion, EPS to be approximately $0.42 to $0.46 and non-GAAP adjusted EPS to be approximately $1.15 to $1.19. According to Reuters Estimates, analysts on an average were expecting the Company to report EPS of $0.30 on revenue of $415 million for the first quarter of 2010; EPS of $1.24 on revenue of $1.700 billion for fiscal 2010. The Company also announced that its Board of Directors has promoted Robert Cascella to Chief Executive Officer (CEO) effective November 5, 2009. Mr. Cascella has been President and Chief Operating Officer since 2003. He succeeds Jack Cumming, who will remain on as Chairman of the Board and a member of the executive management team.
Hologic, Inc. Receives CE Marking For ThinPrep Integrated Imager
Hologic, Inc. announced that it has received CE marking approval for its ThinPrep integrated imager. The integrated imager represents cervical cancer screening by combining ThinPrep imaging technology and slide review into a single, convenient stand-alone device. This exciting new product offering allows laboratories of all sizes to benefit from clinical advantages of ThinPrep imaging for cervical screening.
FDA Clears Hologic, Inc.'s MammoSite ML Radiation Therapy System for Treatment of Early-Stage Breast Cancer
Hologic, Inc. announced that the U.S. Food and Drug Administration (FDA) cleared the Company's 510K application for the MammoSite ML radiation therapy system. With its multi-lumen design, this new device gives radiation oncologists the ability to shape the radiation dose for typical cases and treat patients who are otherwise not appropriate candidates for traditional brachytherapy. The Company expects to commercially launch MammoSite ML during the first quarter of fiscal year 2010 (quarter ending December 26, 2009).
Hologic, Inc. Lowers High End Of Prior FY 2009 Revenue Guidance; Raises FY 2009 EPS Guidance; Issues Q4 2009 Guidance; Revenue Guidance Below Analysts' Estimates
Hologic, Inc. reaffirmed the low-end and tightening the top-end of fiscal 2009 revenue guidance and increasing earnings guidance. For fourth quarter 2009, it expects revenues to be $390-$400 million, reflecting the seasonality of international revenues, which tend to be lower during the summer months, as well as the typical seasonal decline in U.S. office visits impacting Diagnostics and GYN Surgical segments during this period. It expect EPS to be $0.12 to $0.14 per diluted share and non-GAAP adjusted EPS to be $0.25-$0.27. This includes the results of Third Wave, which it expect to be dilutive to non-GAAP adjusted EPS by approximately $0.03 per share. For fiscal 2009, it expects revenues to be $1.625-$1.635 billion, driven primarily by an increase in revenues in Diagnostics segment and from growth in NovaSure product line, offset by anticipated decreases in Breast Health segment, primarily related to mammography product line including the Selenia full field digital system. The Company expect net loss per diluted share to be ($8.48)-($8.50) and it expect non-GAAP adjusted EPS to be approximately $1.14-$1.16. Included in this guidance are the full year results of Third Wave, which expect to be dilutive to non-GAAP adjusted EPS by approximately $0.12 per share. According to Reuters Estimates, analysts were expecting the Company to report revenues of $1.633 billion and EPS of $1.12 for fiscal 2009; revenues of $407 million and EPS of $0.27 for fourth quarter of 2009.
FDA Approves Hologic, Inc.'s Adiana Permanent Contraception System
Hologic, Inc. announced that the U.S. Food and Drug Administration (FDA) has approved the Company's premarket approval (PMA) application for the Adiana permanent contraception system. The Adiana system is designed to provide women a minimally-invasive, non-incision alternative to traditional, surgical means of permanent contraception. In January 2009, Hologic received CE marking approval for the Adiana system and commenced marketing and sales of this product in certain European countries.
