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Hologic Announces Fourth Quarter and Fiscal 2008 Operating Results
Date:11/11/2008

d $442.5 million, a 118% increase when compared to revenues of $202.6 million in the fourth quarter of fiscal 2007. The increase was primarily attributable to the inclusion of approximately $195.5 million of revenues from the diagnostic, surgical and MammoSite product lines acquired in the merger with Cytyc Corporation on October 22, 2007.

For the fourth quarter of fiscal 2008, Hologic reported a net loss of $144.4 million, or $0.56 per diluted share, compared with net income of $32.1 million, or $0.29 per diluted share, in the fourth quarter of fiscal 2007. Included in the fourth quarter of fiscal 2008 results were charges relating to the Third Wave acquisition of: $195.2 million attributable to acquired in-process research and development costs; $3.9 million attributable to the increase in cost of revenues relating to the write-up of inventory to fair market value; $1.1 million attributable to the amortization of intangibles; and $0.5 million of stock-based compensation incurred in connection with the termination of former Third Wave executives. Also included was a charge of $25.5 million attributable to the amortization of intangibles relating to the Cytyc merger. Earnings per share information for 2007 have been restated to reflect the Company's 2-for-1 stock split effected on April 2, 2008.

The Company's non-GAAP adjusted net income for the fourth quarter of fiscal 2008 increased 135% to $77.2 million compared to $32.9 million in the fourth quarter of fiscal 2007. The Company's fiscal 2008 fourth quarter non-GAAP adjusted net income primarily excludes: a $32.0 million charge to costs and expenses to amortize the intangible assets acquired from Third Wave, Cytyc, AEG, BioLucent, Fischer, R2 and Suros; a $195.2 million in-process research and development charge related to the acquisition of Third Wave; and a $3.9 million increase in cost of revenues relating to the write-up of acquired inventory of Third Wave to fair value.

Non-GAAP adjusted
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SOURCE Hologic, Inc.
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