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

r diluted share, for the comparable twelve-month period in fiscal 2007. Included in the twelve months of fiscal 2008 results were the results of operations of Cytyc and Third Wave, as well as charges relating to the Cytyc merger and the Third Wave acquisition included in the adjustments described below.

The Company's non-GAAP adjusted net income for fiscal year 2008 increased 182% to $294.7 million, or $1.18 per diluted share, compared to the Company's non-GAAP adjusted net income of $104.6 million for fiscal year 2007, or $0.95 per diluted share. The Company's fiscal year 2008 non-GAAP adjusted net income primarily excludes: a $119.5 million charge to costs and expenses to amortize the intangible assets acquired from Third Wave, Cytyc, AEG, BioLucent, Fischer, R2 and Suros ($97.2 million relates specifically to Cytyc and Third Wave); $565.2 million of in-process research and development charges related to the merger with Cytyc and the acquisition of Third Wave; and a $46.3 million increase in cost of revenues relating to the write-up of acquired inventory to fair value.

Jack Cumming, Chairman and CEO added, "Fiscal 2008 was a challenging year for Hologic. Investments we made in our technology coupled with our business strategy have enabled the creation of an ever expanding portfolio of products for women's health. In fiscal 2009 we have several challenges including the integration of our two recent acquisitions and a fragile global economic environment. We believe we are well-positioned for continued success with our current product lines and look forward to the prospect of launching new technologies to expand our opportunities for growth."

In connection with its transformational merger with Cytyc in early fiscal 2008, the Company added two significant new operating segments and combined a number of previous operating segments to better align the new resources of the combined company. The Company now has four reporting segments: Breast Health (
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SOURCE Hologic, Inc.
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