Hologic FY2019 Q1 earnings beat The Street

Hologic (NSDQ:HOLX) today posted fiscal year 2019 first quarter earnings that topped expectations on Wall Street.

The Marlborough, Mass.-based company posted profits of $98.6 million, or 36¢ per share, on sales of approximately $830.7 million for the three months ended December 29, seeing profits shrink by 75.8% while sales grew 5% compared with the same period during the previous fiscal year.

Adjusted to exclude one-time items, earnings per share were 58¢, just ahead of the 57¢ consensus on Wall Street where analysts were looking for sales of $817.9 million, which the company topped.

“We posted strong results in our first fiscal quarter, with both revenues and EPS exceeding our guidance ranges. Growth was driven by acceleration in our largest businesses – U.S. breast health, international, and global molecular diagnostics – all of which posted double-digit constant currency growth to start our year,” prez & CEO Steve MacMillan said in a press release.

The company updated its guidance for the remaining fiscal year, expecting to see sales of between $3.305 billion and $3.335 billion, up from previous guidance of between $3.29 billion and $3.335 billion. It also lifted its full year non-GAAP EPS guidance from between $2.38 and $2.42 to between $2.39 and $2.43.

For its coming second quarter, Hologic said it expects to post sales of between $795 million and $810 million, with non-GAAP EPS of between 55¢ and 57¢.

Shares in Hologic rose 2% today, closing at $45.01.

Last month, Hologic touted a win in a court case against a Chinese competitor and former employee the company accused of misappropriating trade secrets.

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