Hologic shares steady on Q4, FY2017 earnings beat

Shares in Hologic (NSDQ:HOLX) have stayed steady today after the medical device maker posted fourth quarter and full fiscal year 2017 earnings that topped expectations on Wall Street. For the fourth quarter, the Marlborough, Mass.-based company posted profits of $82.7 million, or 29¢ per share, on sales of $802.9 million for the 3 months ended September 30, seeing the bottom-line shrink 10.3% while sales grew 10.5% compared to the same period during the previous fiscal year. After adjusting to exclude 1-time items, earnings per share were 50¢, just ahead of the 49¢ consensus on Wall Street where analysts were expecting to see sales of $792.5 million for the quarter. For its full fiscal year 2017, Hologic posted profits of $755.5 million, or $2.64 per share on sales of $3.06 billion, seeing the bottom line grow 128.4% while sales grew 8% compared with the previous fiscal year. Adjusted to exclude 1-time items, earnings per share were $2.03, ahead of the $2.01 consensus on Wall Street where analysts expected to see sales of $3.05 billion, which the company also topped. “We finished a successful and productive fiscal year with a strong performance in the fourth quarter, as revenue exceeded our guidance and sales growth, net of acquisitions and divestitures, accelerated on a sequential basis versus the third quarter,. All our legacy divisions grew on a global basis net of divestitures, while our international and molecular diagnostics franchises delivered double-digit ...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News MassDevice Earnings Roundup Hologic Source Type: news