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Free Research Report as Hologic’s Revenues Jumped 10.3% and Adjusted EPS Climbed 6%

Stock Monitor: BIOLASE Post Earnings Reporting

LONDON, UK / ACCESSWIRE / May 31, 2018 / If you want access to our free earnings report on Hologic, Inc. (NASDAQ: HOLX), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=HOLX. The Company reported its second quarter fiscal 2018 operating and financial results on May 02, 2018. The medical device maker beat revenue estimates, while its earnings were in-line with market expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Hologic most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

For the second quarter of the fiscal year 2018, Hologic's revenues increased 10.3% to $789.3 million compared to $715.4 million in Q2 FY17. Excluding the acquired medical aesthetics and divested blood screening businesses, the Company's revenues increased 4.8%, or 2.6% in constant currency. Hologic's revenue numbers exceeded analysts' estimates of $780.1 million.

During Q2 FY18, Hologic's gross margin was 52.6% on a GAAP basis, and 62.7% on a non-GAAP basis. The Company's GAAP gross margin declined by 170 basis points, while its non-GAAP gross margin declined by 120 basis points, primarily due to geographic and product sales mix.

For Q2 FY18, Hologic's operating expenses were $1.02 billion on a GAAP basis compared to negative $611.1 million in Q2 FY17; increasing primarily due to the Cynosure impairment charges compared to a gain of $899.7 million from the sale of the Company's blood screening business in the prior year's same period. On a non-GAAP basis, Hologic's operating expenses increased 19.7% to $266.9 million.

Hologic's GAAP net loss was $681.4 million, or $2.46 per diluted share, in Q2 FY18 compared to a net income of $526.8 million, or $1.84 per diluted share, in Q2 FY17, declining primarily due to non-cash impairment charges for goodwill and in-process research and development (R&D) of $685.7 million and $46.0 million, respectively, related to Hologic's Cynosure business, and the gain on the sale of the Company's blood screening business in the prior year's comparable period.

Hologic's non-GAAP earnings jumped 6.0% to $0.53 per diluted share in Q2 FY18 compared to $0.50 per diluted share in Q2 FY17. The Company's earnings were in-line with Wall Street's estimates of $0.53 per share.

Revenue Details

During Q2 FY18, Hologic's US revenues rose 3.3% to $588.5 million on a y-o-y basis. Excluding the acquired medical aesthetics and divested blood screening businesses, the Company's US revenues decreased slightly. The Company's International revenues surged 37.8% to $200.8 million on a y-o-y basis in the reported quarter. Excluding the acquired medical aesthetics and divested blood screening businesses, the Company's International revenues increased 26.4% in the reported quarter.

For Q2 FY18, Hologic's Breast Health revenues totaled $300.1 million, reflecting an increase of 7.0% on a y-o-y basis, driven by strong international sales, new products, and service revenues.

In its Diagnostics segment, Hologic's GYN Surgical revenues fell 1.7% to $99.4 million on a y-o-y basis. The Company's MyoSure® revenues jumped 13.5% to $52.7 million compared to the year ago corresponding period, while NovaSure® revenues declined 14.5% to $46.7 million on a y-o-y basis.

Hologic's Medical Aesthetics segment generated revenues of $85.5 million in Q2 FY18, reflecting an increase of 11.5% compared to pro-forma net sales of $76.7 million in Q2 FY17, during the majority of which Cynosure was an independent Company.

For Q2 FY18, Hologic's Skeletal Health revenues increased 12.6% to $24.6 million compared to $21.8 million in Q2 FY17.

Financial Position

During Q2 FY18, Hologic repurchased 2.8 million shares of its common stock for $106.5 million.

Hologic's total debt outstanding was $3.4 billion at the end of Q2 FY18. As of March 31, 2018, the Company had cash and equivalents of $0.6 billion, and a net leverage ratio of 2.7 times.

On a trailing 12-month basis, the Company's adjusted return on invested capital (ROIC) declined 60 basis points to 12.6% versus the prior year's comparable period.

Outlook

For the full fiscal year 2018, Hologic is forecasting revenues to range from $3.18 billion to $3.21 billion, with reported growth rates between 4.0% and 4.9%. The Company re-affirmed its earnings per diluted share to be in the band of $2.22 to $2.27, which represents a reported growth of between 9.4% and 11.8%.

For the third quarter of the fiscal year 2018, Hologic is projecting revenues between $795 million and $810 million, which reflects a decline of 2.8% to a decline of 1% on a constant currency basis. On the bottom-line, the Company expect earnings per share of $0.55 to $0.57 for Q3 FY18, which implies growth rates of between 10% and 14%.

Stock Performance Snapshot

May 30, 2018 - At Wednesday's closing bell, Hologic's stock climbed 1.14%, ending the trading session at $39.02.

Volume traded for the day: 1.39 million shares.

Stock performance in the last month – up 0.59%; and previous three-month period – up 0.49%

After yesterday's close, Hologic's market cap was at $10.81 billion.

The stock is part of the Healthcare sector, categorized under the Medical Instruments & Supplies industry. This sector was up 1.4% at the end of the session.

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