Hologic Announces Third Quarter Fiscal 2008 Operati...(o aconfiguration change in the Selenias ...),Health

Date:7/30/2008

o a configuration change in the Selenias shipped in the third quarter. More specifically, there were fewer workstations and peripheral connectivity devices included with each Selenia sale, which had a negative impact on the average sales price per system when compared to last quarter. We do not believe this is a trend, but rather the result of an extraordinary mix of such products from in the second quarter," said Rob Cascella, President and COO. "On a very positive note, our NovaSure product line enjoyed a strong recovery over earlier expectations, indicating that our efforts to redirect sales programs and focus on longer term customer commitments were successful."

For the nine months ended June 28, 2008, revenues increased 130%, to $1,232.0 million compared to revenues of $535.8 million in the nine months ended June 30, 2007. For the nine months ended June 28, 2008, Hologic recognized a net loss of $241.2 million, or $0.99 per diluted share, compared with net income of $62.5 million, or $0.57 per diluted share, for the comparable nine-month period in fiscal 2007. Included in the first nine 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 inventory to fair market value, and $70.6 million attributable to the amortization of intangibles.

Jack Cumming, Chairman and CEO added, "Overall we were pleased with our efforts in streamlining the operation and controlling costs as both our gross margins improved and our operating expenses, other than restructuring charges and amortization of intangible assets, decreased resulting in better than previously expected earnings. During the fiscal nine months, we made several decisions to focus on opportunities in our core business, streamline our operations and position the company for future growth. Our ongoing efforts co
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SOURCE Hologic, Inc. Copyright©2008 PR Newswire. All rights reserved

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