Hologic reports record revenues

May 14, 2003

Women's health and digital radiography specialist Hologic achieved an 8% rise in revenues during the second quarter ended March 29, racking up $50.3 million compared with $46.4 million over the same period a year earlier. Net income was down markedly,

Women's health and digital radiography specialist Hologic achieved an 8% rise in revenues during the second quarter ended March 29, racking up $50.3 million compared with $46.4 million over the same period a year earlier. Net income was down markedly, however: $383,000 compared with $4.43 million in 2Q 2002. The earlier results reflected a $4.4 million tax refund from the Bush administration's Economic Stimulus Bill. Pretax income increased to $435,000 from $3000 in the second quarter FY 2002. The company achieved this improvement despite the increased investment in sales and service in connection with its transition to a direct sales and service organization for mammography products.

During the second quarter, Hologic shipped 14 Selenia full-field digital mammography systems. Eleven were recognized in revenue during the quarter. At the end of March 2003, the company had a backlog of 40 Selenia orders. On April 24, the firm announced the launch of Selenia sales in the U.K.