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Healthcare

BRIEF-Hologic Withdraws 2020 Financial Guidance Due To Covid-19 Pandemic

April 7 (Reuters) - Hologic Inc:

* HOLOGIC ANNOUNCES PRELIMINARY REVENUE RESULTS FOR SECOND QUARTER OF FISCAL 2020, WITHDRAWS 2020 FINANCIAL GUIDANCE DUE TO COVID-19 PANDEMIC

* Q2 REVENUE $756.1 MILLION VERSUS REFINITIV IBES ESTIMATE OF $756.9 MILLION

* COVID-19 PANDEMIC AND RELATED ECONOMIC DISRUPTION HAD A SIGNIFICANT NEGATIVE EFFECT ON HOLOGIC’S BUSINESS IN LATE MARCH

* IMPLEMENTING A NUMBER OF MEASURES TO REDUCE EXPENSES ACROSS ORGANIZATION

* HOLOGIC - LOWER-THAN-EXPECTED REVENUE IN QUARTER EXPECTED TO NEGATIVELY AFFECT GROSS MARGIN IN Q2, RESULTING IN EPS BELOW CO’S PRIOR EXPECTATIONS

* HOLOGIC - EXPECTS LOWER RESULTS IN QUARTER TO CONTINUE TO HAVE A SIGNIFICANT NEGATIVE IMPACT ON ITS FUTURE REVENUE, ESPECIALLY IN Q3 OF FISCAL 2020 Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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