: Hologic stock jumps, as execs see ‘unprecedented strength’ entering new fiscal year

0
17

Shares of Hologic Inc. HOLX, +1.30% jumped 7.5% after hours on Monday after the maker of medical equipment and technology reported better-than-expected fiscal fourth-quarter results and issued some financial forecasts that were better than expected. The company, whose products focus on women’s health, said it was seeing “unprecedented strength” across its core businesses heading into its new fiscal year. For its fourth quarter, Hologic reported net income of $118.7 million, or 47 cents per share, compared with $328.8 million, or $1.28 per share, in the prior-year quarter. Revenue came in at $953.3 million, compared to $1.32 billion in the quarter a year ago, driven by “lower sales of COVID-19 assays and supply chain challenges related to semiconductor chips in our Breast Health business.” Adjusted earnings per share came in at 82 cents, compared with $1.61 per share in the year-earlier period. Analysts polled by FactSet expected adjusted earnings of 62 cents per share, on sales of $862.1 million. Hologic said it expected full-year adjusted earnings per share of between $3.30 and $3.60, compared with FactSet estimates for $3.43. It said it expected revenue of $3.7 billion to $3.9 billion, compared with FactSet estimates for $3.81 billion. For its first quarter, Hologic expects to earn between 80 cents and 90 cents per share, compared to FactSet estimates for 81 cents per share, on revenue of $940 million to $990 million, compared to forecasts for $966 million.

This article was originally published by Marketwatch.com. Read the original article here.

Previous article: Property appraisers valued an interracial couple’s home at $310,000 when they met the Black homeowner — but gave their white partner a $350,000 valuation
Next articleBlue-chip sights set on record October even as U.S. stocks edge lower at open

LEAVE A REPLY

Please enter your comment!
Please enter your name here