Hologic Announces Preliminary Revenue Results for First Quarter of Fiscal 2022

Industry news | 10 January, 2022 | CACLP

Original from: Business wire

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Hologic, Inc. (Nasdaq: HOLX) announced today preliminary revenue results for its first fiscal quarter ended December 25, 2021.

The Company expects to report total revenues of approximately $1,471.1 million, a decrease of (8.6%) compared to the prior year period, or (8.2%) in constant currency. These preliminary results compare to the Company’s most recent guidance range of $1,100 to $1,150 million, which was provided on November 1, 2021.

“We expect to report a very strong start to fiscal 2022 across-the-board, with first quarter revenue well above our guidance,” said Steve MacMillan, the Company’s Chairman, President and Chief Executive Officer. “Our Diagnostics division had another quarter of exceptional performance, as we over-delivered in our base business while meeting heavy demand for COVID testing. Further, our Breast and Skeletal Health and Surgical businesses showed strength, with each growing over 8%. In total, we estimate organic growth excluding COVID benefits of 9.0% in constant currency for our first quarter, compared to our 5% to 7% long-term growth target.”

Global revenues by division are expected to be:

$s in millions	Preliminary Q1’22	Q1’21	Reported Change	Constant Currency Change
Diagnostics	$950.4	$1,128.2	(15.8%)	(15.2%)
Organic Diagnostics excluding COVID	$320.8	$291.9	9.9%	10.2%
Breast Health	$359.4	$332.7	8.0%	8.4%
GYN Surgical	$134.3	$124.0	8.3%	8.2%
Skeletal Health	$27.1	$24.9	8.8%	9.7%
Total	$1,471.1	$1,609.8	(8.6%)	(8.2%)
Excluding divested Blood business and Biotheranostics, Diagenode, Mobidiag and Bolder acquisitions (Organic)	$1,430.7	$1,601.7	(10.7%)	(10.2%)
Organic revenue excluding COVID	$840.9	$773.4	8.7%	9.0%

Hologic has not yet completed its financial close processes for the first quarter of fiscal 2022, so GAAP financial results for the quarter have not yet been finalized. However, the Company expects non-GAAP diluted earnings per share (EPS) to be significantly higher than the guidance of $1.15 to $1.25 provided on November 1, 2021.

Hologic intends to provide its full financial results for the first quarter on February 2, 2022. Until that time, the preliminary revenue results described in this press release are estimates only and are subject to revisions that could differ materially. When the Company reports its first quarter results, it also expects to provide updated financial guidance for the second quarter and fiscal 2022, following the completion of its quarterly forecasting process.

Source: Hologic Announces Preliminary Revenue Results for First Quarter of Fiscal 2022

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