Archive for the ‘Hologic Inc. HOLX’ Category

Beacon Equity Research Featured Company: Hologic Inc. (HOLX)

Wednesday, February 18th, 2009

Hologic Inc., a diversified diagnostic and medical product and device company, works with its subsidiaries to develop, manufacture and distribute medical imaging systems and surgical products designed to serve the healthcare needs of women. The Company’s core business units are focused on breast health, diagnostics, GYN surgical and skeletal health.

The Breast Health segment offers a broad portfolio of breast imaging and related products. The Diagnostic Products segment provides ThinPrep System, cervical cancer screening and Fetal Fibronectin Test for pre-term birth risk assessment. The GYN Surgical segment includes NovaSure Impedance Controlled RF Ablation system, a minimally-invasive procedure that allows physicians to treat women suffering from excessive menstrual bleeding. The Skeletal Health Segment includes dual-energy X-ray bone densitometers and ultrasound bone analyzers that address a growing market for osteoporosis prevention and treatment.

In October 2007, HOLX acquired Cytyc Corporation for approximately $6.2 billion to become one of the largest companies in the world focused on advanced technology in women’s health. Through this merger, the Company gained several other product lines, including tests to screen for cervical cancer, prenatal diagnostics, and radiation treatment of early-stage breast cancer. The acquisition made a substantial impact on HOLX’s revenues.

The Company has offices throughout Europe, the UK, Germany, France, Belgium, Italy and Spain, as well as in Australia, China and Canada. These offices handle sales, service, training and distribution to hospitals and clinical laboratories. HOLX markets its products through a combination of direct sales and service force, and a network of independent distributors and sales representatives. Founded about 20 years ago, the Company is headquartered in Bedford, Mass., and employs more than 4,000 employees worldwide.

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Hologic, Inc. (HOLX) Receives FDA Clearance to Incorporate World Health Organization 10-Year Fracture Risk Assessment into Its Bone Densitometer Systems

Wednesday, September 24th, 2008

Hologic, Inc. (HOLX) is a developer, manufacturer and supplier of diagnostics products, medical imaging systems and surgical products dedicated to serving the healthcare needs of women. Hologic’s core business units are focused on breast health, diagnostics, GYN surgical, and skeletal health. The company, in June, announced the acquisition of Third Wave Technologies, which develops and markets molecular diagnostic reagents for a wide variety of DNA and RNA analysis applications based on its proprietary Invader® chemistry.

Hologic recently announced that it is the first diagnostic medical device manufacturer to receive U.S. Food and Drug Administration clearance to incorporate the World Health Organization (WHO) FRAX™ 10-year fracture risk calculator into its bone densitometer systems. The WHO Collaborating Centre for Metabolic Bone Diseases, located at the University of Sheffield Medical School, U.K., developed FRAX as a tool to help healthcare providers identify and proactively treat patients with a high risk of bone fractures due to low bone mass and other risk factors. Hologic built this technology into its Discovery™ and Explorer™ bone densitometer systems.

FRAX, an algorithm, enables healthcare providers to identify patients with a high risk of experiencing bone fractures within a period of 10 years. Individual countries can determine a country specific intervention threshold, where pharmacological treatment is justified for fracture prevention. FRAX identifies patients who are at high risk of fracture but would not be candidates for preventative therapy. Using the traditional T-score, FRAX combines eleven of the highest risk factors, including age, personal history of fractures, and family history of fractures, plus country-specific life expectancy and country-specific fracture data.

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Hologic, Inc. (HOLX.OB) Reports Second Quarter Financials

Friday, May 2nd, 2008

Hologic, Inc. (HOLX), a diversified medical technologies company serving the healthcare needs of women, recently reported its second quarter financials, which included revenues of $431 million and an estimated $189.2 million from a new product line acquired through a merger with Cytyc Corporation in October 2007. The results were a 138 percent increase from the second quarter in 2007, which reported $181.1 million in revenue.

Net income also increased from $21.6 million in 2007 to $56.0 million in 2008, which equates to $0.20 per diluted share in 2007 to $0.22 per diluted share in 2008. Charges related to the merger with Cytyc of $25.1 million for the amortization of intangibles and $0.8 million for the write-up of acquired inventory to fair market value were included in the calculations of the second quarter net income.

Analysts had estimated second quarter earnings of $0.28 on about $417 million revenue. Due to the 21 percent miss on earnings, Hologic stock decreased by 18.6 percent to $23.75 per share. Although the company did not make expectations, a number of analysts posted positive updates.

“This quarter marks our first full quarter since we completed our acquisition of Cytyc. We are pleased with our results and proud of our accomplishments to date — most notably, the alignment of our sales resources and our expanded product offerings,” stated Jack Cumming, CEO of Hologic. “We are beginning to see the sales synergies we had hoped for, especially in our Breast Health segment as the combined sales force has opened up a channel of opportunity for our interventional breast solutions business. Fiscal 2008 continues to look bright as we remain committed to our financial targets.”

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Hologic, Inc. (HOLX.OB) Reports Second Quarter Revenue of $431 Million – Yet Stock Plunge

Thursday, May 1st, 2008

Hologic, Inc. (HOLX.OB), a diversified medical technologies company specializing in diagnostics, imaging systems and interventional devices dedicated to serving the healthcare needs of women, recently reported the company’s second quarter earnings.

The company reported second quarter revenue of $431 million, a 138% year-over-year increase when compared to revenues of $181.1 million in the second quarter of 2007. The dramatic increase, however, is mostly due to the inclusion of approximately $189.2 million of revenues from the merger with Cytyc Corporation on October 22, 2007.

For the second quarter of 2008, Hologic reported net income of $56 million, or $0.22 per diluted share, up from net income of $21.6 million, or $0.20 per diluted share, in the second quarter of 2007. Again, these figures include charges relating to the Cytyc merger of $25.1 million attributable to the amortization of intangibles and $0.8 million attributable to the increase in cost of revenues.

Despite the growth, even when taking into account the net earning minus the acquisition, the numbers stilled missed analyst expectations. Estimates called for earnings of $0.28 per share on $417.88 million in revenue – nearly 21% off the mark. Shares plunged more than 18% on the earnings news; however, several analysts are standing by the company. Both Jefferies and Citigroup noted that the sell off was overdone and reiterated their Buy ratings for Hologic.

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