Hologic Reports Q2 Earnings; Net Loss Improves

This afternoon April 30, 2014, Hologic, Inc. HOLX reported its second fiscal quarter earnings. Shares of the company are trading up 6.15 percent per share or $1.29 to $22.28. The company reported that revenues increased 2.0 percent to $625.0 million, from $612.7 the same time a year ago. Additionally, second quarter fiscal 2014 net loss improved to $16.8 million, compared to a net loss of $51.1 million. "Second quarter results reflect early progress towards our renewed focus on executional discipline as we drive to our goal of sustainable organic growth," said Stephen MacMillan, President and Chief Executive Officer. "Our key product lines, such as Hologic's unique 3D mammography and Aptima HPV, gained momentum during the quarter. To be clear, we still have plenty of work to do in order to consistently improve our operating results, achieve long-term growth and maximize value creation. However, I am excited by how our sales teams are responding to help achieve progress towards our primary objectives: leveraging our unique collection of leading technologies to drive organic growth and focusing our capital allocation efforts on debt reduction." The company is expecting to see third quarter revenues of $615 to $625 million. Revenues in 2013 stood at $626.1 million and year-over-year this represents a two percent down or flat growth. Additionally the company expects non‐GAAP EPS of $0.33 to $0.34. The company is raising its fiscal 2014 revenue guidance to a range of $2.460 billion to $2.490 billion; this again represents a negative growth rate over fiscal 2013. The company is also raising its fiscal 2014 non-GAAP EPS guidance to a range of $1.37 to $1.40. The company also stated that its drug, Hologic, might not generate expected revenues and may incur expenses or charges, realize income or gains, or execute transactions in fiscal 2014.