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Hologic Announces Fourth Quarter and Fiscal 2010 Operating Results
Date:11/8/2010

intangible assets; and (ii) a non-cash interest expense charge of $73.1 million and $67.7 million, respectively, related to the Company's Convertible Notes. Also included in the results for the twelve months ended September 25, 2010 were charges consisting primarily of: (i) a charge of $220.2 million for the impairment of goodwill and intangible assets relating to the Company's MammoSite reporting unit, as discussed above; (ii) $11.4 million related to patent litigation settlement charges, net; and (iii) $5.8 million related to acquisition-related costs and charges. Also included in the results for the twelve months ended September 26, 2009 were charges of: (i) $2.34 billion for the impairment of goodwill relating to reporting units acquired from Cytyc; and (ii) $4.1 million attributable to the write-off of certain intangible assets acquired from Third Wave.

The Company's non-GAAP adjusted net income for the twelve months ended September 25, 2010 increased to $308.0 million compared to $303.9 million in the twelve months of fiscal 2009. The Company's fiscal 2010 twelve-month non-GAAP adjusted net income primarily excludes: (i) the impairment charges discussed above; (ii) amortization of intangible assets; (iii) non-cash interest expense related to the Company's Convertible Notes; (iv) patent litigation settlement charges, net; and (v) acquisition-related costs and charges. The Company's fiscal 2009 twelve-month non-GAAP adjusted net income primarily excludes: (i) goodwill impairment charges; (ii) write-off and amortization of intangible assets; and (iii) non-cash interest expense relating to the Company's Convertible Notes.

As of September 25, 2010, total backlog for all products was $274.6 million.

"We are pleased with our fourth quarter and fiscal year 2010 performance," said Rob Cascella, President and Chief Executive Officer. "However, we also believe the numbers do not tell the entire story. Naturally, we are extremely plea
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SOURCE Hologic, Inc.
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