Hologic revenues trend downward

August 4, 2009

Other headlinesCardinal Health to add radiopharmacies

Hologic revenues trend downward
Third quarter revenues dipped 6.1% at Hologic to $403.1 million from the year earlier, due primarily to falling demand for the company’s digital mammography systems. Company execs blamed the dismal economic conditions for delays and cuts in hospital capital spending. The company still generated net income of $41.0 million, albeit down from the previous year’s 3Q net income of $61.4 million. Previous success selling digital mammography units bolstered the bottom line, as the company generated a 23.8% increase in service and other revenues related primarily to its installed base of the Selenia systems. Company execs reaffirmed the low-end and tightened the top-end of its fiscal 2009 revenue guidance, predicting fourth quarter revenues between $390 million and $400 million, which would be slightly lower than those in 3Q.

Cardinal Health to add radiopharmacies
Cardinal Health has agreed to acquire the assets of privately held Biotech, an operator of PET cyclotrons and nuclear pharmacies in the U.S. Southwest. Biotech's four nuclear pharmacies, which will be acquired for an undisclosed amount, will expand Cardinal Health’s PET business in Arizona, Nevada, New Mexico and Texas. The company operates about 160 nuclear pharmacies and 26 cyclotron-based PET radiopharmaceutical manufacturing facilities.