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Hologic (HOLX) Drops After Guiding Q1, 2013 Below Street

 November 12, 2012 04:26 PM
 


(By Balaseshan) Hologic Inc. (NASDAQ: HOLX) reported an increase in fourth quarter adjusted earnings on strong revenue growth across its segments. Despite upbeat results, the company guided first quarter and fiscal 2013 below Street's view, sending shares down 2.26% in aftermarket.

Loss for the fourth quarter were $77.77 million or $0.29 per share, compared to a profit of $27.57 million or $0.10 per share last year. Adjusted earnings per share (EPS) rose to $0.37 from $0.34.

Revenue increased to $588.55 million from $467.05 million, while adjusted revenue grew 28.5% to $600.2 million.

Analysts, on average, polled by Thomson Reuters had expected a profit of $0.37 per share on revenue of $581.62 million for the fourth quarter.

[Related -Hologic Inc. (HOLX) Q3 Earnings Preview: New, Old Management With A New Tone?]

Hologic legacy revenues, excluding the contribution from the company's acquisition of Gen-Probe, increased 7% to $499.1 million. Gen-Probe revenues of $89.5 million ($101.1 million, as adjusted for the contingent revenue) for the two-month post-acquisition period.

Diagnostics revenues jumped 68.4% to $253.5 million, while Breast Health revenue rose 5.1% to $230.3 million. GYN Surgical revenue increased 7.7% to $79.7 million, while Skeletal Health revenue rose 7.2% to $25.1 million.

Looking ahead into the first quarter, the company expects adjusted EPS of $0.37 and adjusted revenue of $640 million to $645 million, while Street analysts predict EPS of $0.40 on revenue of $660.88 million.

[Related -Stock Upgrades And Downgrades: AIG, APO, COH, EOG, HOLX, IRF]

For the fiscal 2013, the company anticipates adjusted EPS of $1.56 to $1.58 and adjusted revenue of $2.61 billion to $2.64 billion, while Street predicts profit of $1.64 per share on revenue of $2.68 billion.

HOLX closed Monday's regular session up 0.34% at $20.39. The stock has been trading between $15.99 and $22.16 for the past 52 weeks.

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