Hologic's second-quarter revenue doubles
Bone densitometry firm Hologic of Waltham, MA, said thatdemandfor its Acclaim fanbeam bone measurement devices contributed toa doubling of revenue and a sharp spike in net income in its secondquarter (end-March). Hologic posted revenues of $18.8
Bone densitometry firm Hologic of Waltham, MA, said thatdemandfor its Acclaim fanbeam bone measurement devices contributed toa doubling of revenue and a sharp spike in net income in its secondquarter (end-March).
Hologic posted revenues of $18.8 million for the quarter, comparedwith $9 million in the second quarter of 1995. Net income forthe most recent period stood at $3 million, compared with netincome of $154,000 in the same period last year. Hologic has alsoamassed a war chest of $57.9 million in cash and cash equivalents,compared with $7.4 million in cash last year.
The news sent Hologic's stock up $2 a share to close at $32.50on May 2. Shares of bone densitometry rival Lunar fell sharply,losing $3.50 a share to close at $36.50.