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Hologic Announces Third Quarter Fiscal 2011 Operating Results
Date:8/1/2011

(ii) a $29.9 million non-cash loss on the exchange of Convertible Notes in the first quarter; (iii) a $3.3 million charge attributable to the write-up of acquired inventory sold relating to Sentinelle and Interlace; and (iv) a $1.4 million net credit to operating expenses attributable to contingent consideration relating to the Sentinelle, Interlace and TCT acquisitions. The Company's non-GAAP adjusted net income for the first nine months of fiscal 2010 also primarily excludes a $12.5 million litigation settlement charge related to a legal settlement.

Non-GAAP adjusted net income, non-GAAP adjusted earnings per diluted share (non-GAAP adjusted EPS), and adjusted EBITDA are non-GAAP financial measures. The Company's definitions of these non-GAAP financial measures, and the reconciliations of these measures to the Company's comparable GAAP financial measures for the periods presented, are set forth in the supplemental information attached to this press release. When analyzing the Company's operating performance, investors should not consider these non-GAAP measures as a substitute for the comparable financial measures prepared in accordance with GAAP.

As of June 25, 2011, total backlog for all products was $292.4 million.

"We had another strong quarter with growth from all four of our business segments contributing to record revenues," said Rob Cascella, President and Chief Executive Officer. "We are encouraged by the early interest in our Dimensions 3D mammography system, which was approved by the FDA last quarter. I am particularly pleased with the strong performance of our Diagnostics and GYN Surgical businesses this quarter. Lastly, we believe our China-based acquisitions of TCT and Healthcome will further enable us to deliver on our international expansion strategy. These two businesses are intended to better position Hologic to take advantage of the growth opportunities presented by the Chinese market."  

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SOURCE Hologic, Inc.
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