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Hologic Announces Second Quarter Fiscal 2009 Operating Results
Date:5/4/2009

Cytyc, $4.1 million attributable to the write-off of certain intangible assets, $89.2 million attributable to the amortization of intangibles relating to the Cytyc merger and the Third Wave acquisition, and $0.8 million attributable to the increase in cost of revenues relating to the write-up of Third Wave inventory to fair value. Also included were two full quarters of operating expenses of $22.8 million from Third Wave. Included in the first six months of fiscal 2008 results were charges relating to the Cytyc merger of $370.0 million attributable to acquired in-process research and development costs, $42.3 million attributable to the increase in cost of revenues relating to the write-up of acquired inventory to fair market value, and $45.5 million attributable to the amortization of intangibles. There were no Third Wave expenses in the comparable six-month period in fiscal 2008.

As of March 28, 2009, total backlog for all products was $339 million.

"This year continues to be challenging given the current conditions of the economic environment and as a result, many drivers of our business continue to remain uncertain," said Jack Cumming, Chairman and Chief Executive Officer. "The decline in demand for capital equipment has impacted sales of our Selenia digital mammography systems among our hospital customers, but were in-line with our expectations. We are pleased with the performance of our Diagnostics and GYN Surgical product lines and we are extremely excited to have received FDA approval of not only our Cervista HPV HR test, but also our Cervista HPV 16/18 test. These state-of-the art diagnostic tests should help solidify our leadership in cervical cancer screening. In addition, we remain focused on developing new products to complement our current lines and fortify our long-term growth objectives. Finally, our cash flows from operations and balance sheet remain strong."

Second quarter revenue overview by
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SOURCE Hologic, Inc.
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