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Hologic Jumps After Q1 Earnings Beat

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Hologic (NASDAQ: HOLX) is up more than three percent in after hours trading after the company announced its first quarter results.

The firm reported a Q1 EPS of $0.34 versus the Street estimate of $0.31.

Revenue was down three percent from the year-ago period, arriving at $612.4 million versus the Street estimate of $609.65 million.

"While we delivered on our commitments in the quarter, we clearly have work to do to return to sustainable top and bottom line growth," Stephen MacMillan, President and Chief Executive Officer of Hologic, said in a company release.

"Looking forward, I am energized by our unique collection of leading product technologies and a deeply committed and passionate employee base to drive organic growth. Through the balance of fiscal 2014, we will remain focused on improving our operating performance and growth profile and on paying down our debt balance, which we believe will enhance shareholder value."

For the second quarter, Hologic expects to report a Q2 EPS within the $0.32 to $0.34 range versus the Street estimate of $0.33 analyst estimate.

Hologic expects Q2 sales to be between $605 million and $615 million versus the Street estimate of $606.4.

The company has also raised its FY2014 EPS Guidance from $1.32 - $1.38 to $1.34 - $1.38 versus the Street estimate of $1.36.

Disclosure: At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report.

Posted-In: hologic Stephen MacMillanEarnings News

 

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