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Hologic Announces Fourth Quarter Fiscal 2013 Operating Results
Date:11/11/2013

e same period in the prior year.

The Company has significant goodwill on its balance sheet as a result of its acquisitions. The Company's policy is to review its goodwill for impairment annually as of the first day of its fiscal fourth quarter. In the fourth quarter of fiscal 2013, the Company completed this goodwill impairment analysis and, based on a combination of factors including a full re-evaluation of the Company's existing product development efforts and cost structure, as well as a change in revenue forecasts, the Company determined that a portion of its goodwill within its Diagnostics business segment was impaired. As a result, the Company recorded a non-cash charge of $1.1 billion. This non-cash charge is included in the non-GAAP goodwill adjustment in the financial reconciliation attached to this press release.

For the twelve months ended September 28, 2013, revenues increased 24.4% to $2.49 billion from $2.00 billion in the prior year. During the same period, non-GAAP revenues increased 24.7% to $2.51 billion from $2.01 billion. Non-GAAP revenues reflect the addition of $19.7 million and $11.6 million in fiscal 2013 and 2012, respectively, primarily relating to the purchase accounting described above.

For the twelve months ended September 28, 2013, Hologic reported a net loss of $1.2 billion, or $(4.36) per diluted share, compared with a net loss of $73.6 million, or $(0.28) per diluted share, for the twelve months ended September 29, 2012. The Company's non-GAAP net income of $406.5 million, or $1.50 per diluted share, for the twelve months ended September 28, 2013, increased 10.5% and 8.5%, respectively, compared to $367.8 million, or $1.38 per diluted share, for the same period in the prior year.

The following non-GAAP financial measures are included in this press release: revenues, net income, earnings per diluted share (EPS), and adjusted EBITDA. The Company's definitions of these non‐GAAP financial measures, and
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SOURCE Hologic, Inc.
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