BEDFORD, Mass., July 30, 2014 /PRNewswire/ -- Hologic, Inc.
(NASDAQ: HOLX) today announced its results for the third fiscal
quarter ended June 28, 2014.
Third Quarter Financial Highlights and Recent
Developments:
- Revenues increased 1.0% to $632.6
million, reflecting operational growth of 0.5% and a
positive currency impact of 0.5%, compared to the same period in
the prior year.
- Revenues grew in three of the four business segments.
- Breast Health revenues grew 3.5%.
- GYN Surgical revenues grew 3.5%.
- Skeletal Heath revenues grew 0.9%.
- Diagnostics revenues declined (1.5)%.
- Non-GAAP net income was $102.4
million, or $0.37 per diluted
share, a decrease of (0.8)% and (3.2)%, respectively, versus prior
year, but above the guidance range of $0.33
to $0.34.
- GAAP net income was $11.3
million, or $0.04 per diluted
share, compared to a net loss of $(11.0)
million, or $(0.04) per
diluted share, versus prior year.
- The Company is raising its full year 2014 revenue and non-GAAP
EPS guidance.
- Robert W. McMahon appointed
Chief Financial Officer.
- Publication in JAMA of "Breast Cancer Screening Using
Tomosynthesis in Combination with Digital Mammography," discussing
the largest study to date reviewing Hologic's 3D Mammography, which
demonstrated a 41% increase in the detection of invasive cancers, a
29% increase in detection of all breast cancers, and 15% decrease
in recalls for additional imaging when compared with conventional
digital mammography.
- Amended license agreement with Roka Bioscience, Inc. resulting
in total up-front payments of approximately $20 million in cash and common stock to be paid
to Hologic during the fourth quarter of fiscal 2014.
"Our fiscal third quarter results demonstrate the progress we
are making in our turnaround efforts," said Stephen MacMillan, President and Chief Executive
Officer. "Key contributors were the performance of our 3D
mammography business, service associated with our large and growing
installed base of digital mammography systems, our molecular
diagnostics business lines, and our surgical business. With the
landmark publication in JAMA of the first-large scale U.S.
study demonstrating the benefits of our 3D mammography technology,
we are now even more confident that our 3D mammography has very
bright prospects and will be a significant driver of value creation
for Hologic shareholders."
Mr. MacMillan continued, "We also strengthened our senior
management team with the appointments of four new members of the
senior leadership team, most recently Bob
McMahon as CFO and Pete
Valenti as Division President, Breast and Skeletal Health.
We now have the right team in place to execute our strategy and are
encouraged by our progress and positive results to date as we
return to a path of sustainable, organic growth."
Third Quarter Fiscal 2014 Revenue Overview by Segment
(Compared to the Third Quarter Fiscal 2013):
- Diagnostics revenues of $293.1
million decreased (1.5)%, primarily due to decreases in
ThinPrep pap test sales in the U.S. due to interval expansion and
to a lesser extent, blood screening revenues. Partially offsetting
these declines was a 7.0% increase in the Company's molecular
diagnostics franchise, primarily from the Company's Aptima product
line.
- Breast Health revenues of $238.0
million grew 3.5%. During the quarter, the Company continued
to experience strong growth in sales of 3D mammography systems, as
well as continued service revenue growth from the growing installed
base of digital mammography systems. Partially offsetting these
increases was the expected overall sales decline of 2D systems as
customers continued to move to the Company's 3D systems.
- GYN Surgical revenues of $78.5
million grew 3.5%, driven by strong growth in MyoSure system
sales, partially offset by slower declines of NovaSure system sales
in the U.S.
- Skeletal Health revenues of $23.0
million grew 0.9%.
Financial Guidance:
The Company's guidance includes current operations, including
revenues from its approved and cleared products. This guidance does
not include the effects of any future stock repurchases,
acquisitions, divestitures or additional voluntary debt payments
that may occur during fiscal 2014.
Fourth Quarter Fiscal 2014 (Quarter Ending September 27, 2014):
- The Company expects fourth quarter fiscal 2014 revenues of
$630 million to $640 million, which
excludes the one-time revenue contribution of approximately
$20 million resulting from the
amendment to the Company's license agreement with Roka Bioscience,
Inc.
- The Company expects non-GAAP EPS of $0.36 to $0.37. This excludes a $0.05 favorable impact due to the one-time
revenue contribution of approximately $20
million.
- Including the one-time revenue contribution of approximately
$20 million, the Company expects
revenues of $650 million to $660
million and non-GAAP EPS of $0.41 to
$0.42.
Fiscal 2014 (Year Ending September 27,
2014):
Based on the third quarter fiscal 2014 results and improved
outlook for the fourth quarter, the Company is raising its fiscal
2014 revenue and EPS guidance.
- The Company is raising its fiscal 2014 revenue guidance to a
range of $2.50 billion to $2.51
billion (from $2.46 billion to
$2.49 billion provided on
April 30, 2014). This excludes the
one-time revenue contribution of approximately $20 million.
- The Company is raising its fiscal 2014 non-GAAP EPS guidance to
a range of $1.44 to $1.45 (as
compared to $1.37 to $1.40 provided
on April 30, 2014). This excludes a
$0.05 favorable impact from the
one-time revenue contribution of approximately $20 million.
- Including the one-time revenue contribution of approximately
$20 million, the Company expects
revenues of $2.52 billion to $2.53
billion and non-GAAP EPS of $1.49 to
$1.50.
Hologic may not generate expected revenues and may incur
expenses or charges, realize income or gains, or execute
transactions in fiscal 2014 that could cause actual results to vary
from the guidance above. In addition, the Company is continuing to
monitor the effects of the U.S., European and general worldwide
economic and regulatory conditions and related uncertainties,
including the implementation of healthcare cost containment
measures and healthcare reform legislation, as well as foreign
currency fluctuations, which, along with other uncertainties facing
the Company's business including those referenced elsewhere herein
and in its filings with the Securities and Exchange Commission,
could adversely affect anticipated results.
The Company includes non-GAAP financial measures in this press
release. Definitions of these non- GAAP financial measures and the
reconciliations to the Company's comparable GAAP financial measures
(calculated in accordance with U.S. generally accepted accounting
principles) for the periods presented, are included in this press
release.
Conference Call and Webcast:
Hologic's management will host a conference call on Wednesday, July 30, 2014, at 4:30 p.m. (Eastern) to discuss third quarter
fiscal year 2014 operating results. Interested participants may
listen to the call by dialing 877-627-6582 or 719-325-4933 for
international callers and referencing code 2351981 approximately 15
minutes prior to the call. For those unable to participate in the
live broadcast, a replay will be available two hours after the call
ends through Wednesday, August 20,
2014, at 888-203-1112 or 719-457-0820 for international
callers, access code 2351981. The Company will also provide a live
webcast of the call. Interested participants may access the webcast
on the Company's website at
http://investors.hologic.com/investors-overview. A PowerPoint
presentation related to the conference call will be posted to the
site.
About Hologic, Inc.:
Hologic, Inc. is a leading developer, manufacturer and supplier
of premium diagnostic products, medical imaging systems, and
surgical products, with an emphasis on serving the healthcare needs
of women. The Company operates four core business units focused on
diagnostics, breast health, GYN surgical and skeletal health. With
a comprehensive suite of technologies and a robust research and
development program, Hologic is committed to improving lives. The
Company is headquartered in Massachusetts. For more information, visit
www.hologic.com.
Hologic, Aptima, Gen-Probe, MyoSure, NovaSure, and ThinPrep and
associated logos are trademarks and/or registered trademarks of
Hologic, Inc. and/or its subsidiaries in the United States and/or other countries.
Forward-Looking Statement Disclaimer:
This News Release contains forward-looking information that
involves risks and uncertainties, including statements about the
Company's plans, objectives, expectations and intentions. Such
statements include, without limitation: financial or other
information included herein based upon or otherwise incorporating
judgments or estimates relating to future performance, events or
expectations; the Company's strategies, positioning, resources,
capabilities, and expectations for future performance; and the
Company's outlook and financial and other guidance. These
forward-looking statements are based upon assumptions made by the
Company as of the date hereof and are subject to known and unknown
risks and uncertainties that could cause actual results to differ
materially from those anticipated.
Risks and uncertainties that could adversely affect the
Company's business and prospects, and otherwise cause actual
results to differ materially from those anticipated, include
without limitation: the ability of the Company to successfully
manage recent and ongoing leadership and organizational changes,
including the ability of the Company to attract, motivate and
retain key employees; U.S., European and general worldwide economic
conditions and related uncertainties; the Company's reliance on
third-party reimbursement policies to support the sales and market
acceptance of its products, including the possible adverse impact
of government regulation and changes in the availability and amount
of reimbursement and uncertainties for new products or product
enhancements; uncertainties regarding the recently enacted or
future healthcare reform legislation, including associated tax
provisions, or budget reduction or other cost containment efforts;
changes in guidelines, recommendations and studies published by
various organizations that could affect the use of the Company's
products; uncertainties inherent in the development of new products
and the enhancement of existing products, including FDA approval
and/or clearance and other regulatory risks, technical risks, cost
overruns and delays; the risk that products may contain undetected
errors or defects or otherwise not perform as anticipated; risks
associated with strategic alliances and the ability of the Company
to realize anticipated benefits of those alliances; risks
associated with acquisitions, including without limitation, the
Company's ability to successfully integrate acquired businesses,
the risks that the acquired businesses may not operate as
effectively and efficiently as expected even if otherwise
successfully integrated, the risks that acquisitions may involve
unexpected costs or unexpected liabilities; the risks of conducting
business internationally; the risk of adverse exchange rate
fluctuations on the Company's international activities and
businesses; manufacturing risks, including the Company's reliance
on a single or limited source of supply for key components, and the
need to comply with especially high standards for the manufacture
of many of its products; the Company's ability to predict
accurately the demand for its products, and products under
development, and to develop strategies to address its markets
successfully; the early stage of market development for certain of
the Company's products; the Company's leverage risks, including the
Company's obligation to meet payment obligations and financial
covenants associated with its debt; risks related to the use and
protection of intellectual property; expenses, uncertainties and
potential liabilities relating to litigation, including, without
limitation, commercial, intellectual property, employment and
product liability litigation; technical innovations that could
render products marketed or under development by the Company
obsolete; and competition.
The risks included above are not exhaustive. Other factors that
could adversely affect the Company's business and prospects are
described in the filings made by the Company with the SEC. The
Company expressly disclaims any obligation or undertaking to
release publicly any updates or revisions to any such statements
presented herein to reflect any change in expectations or any
change in events, conditions or circumstances on which any such
statements are based.
HOLOGIC,
INC.
|
CONDENSED
CONSOLIDATED BALANCE SHEETS
|
(Unaudited)
|
(In
millions)
|
|
|
June 28,
2014
|
|
September 28,
2013
|
ASSETS
|
|
|
|
|
|
|
|
Current
assets:
|
|
|
|
Cash and cash
equivalents
|
$
638.4
|
|
$
829.4
|
Accounts receivable,
net
|
381.7
|
|
409.3
|
Inventories
|
329.8
|
|
289.4
|
Deferred income
taxes
|
34.4
|
|
—
|
Other current
assets
|
48.1
|
|
96.1
|
Total current
assets
|
1,432.4
|
|
1,624.2
|
|
|
|
|
Property, plant
and equipment, net
|
467.4
|
|
491.5
|
Goodwill and intangible
assets
|
6,369.8
|
|
6,721.2
|
Other assets
|
142.4
|
|
163.9
|
Total
assets
|
$
8,412.0
|
|
$
9,000.8
|
LIABILITIES AND
STOCKHOLDERS' EQUITY
|
|
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
Current portion of
long-term debt
|
$
102.0
|
|
$
563.8
|
Accounts payable and
accrued liabilities
|
348.8
|
|
392.3
|
Deferred
revenues
|
147.1
|
|
132.3
|
Total current
liabilities
|
597.9
|
|
1,088.4
|
Long-term debt, net of
current portion
|
4,168.5
|
|
4,242.1
|
Deferred income
taxes
|
1,410.8
|
|
1,535.3
|
Other long-term
liabilities
|
203.5
|
|
193.5
|
Total
liabilities
|
6,380.7
|
|
7,059.3
|
Total stockholders'
equity
|
2,031.3
|
|
1,941.5
|
Total liabilities
and stockholders' equity
|
$
8,412.0
|
|
$
9,000.8
|
HOLOGIC,
INC.
|
CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS
|
(Unaudited)
|
(In millions, except
number of shares which are reflected in thousands and per share
data)
|
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
June 28,
2014
|
|
June 29,
2013
|
|
June 28,
2014
|
|
June 29,
2013
|
Revenues:
|
|
|
|
|
|
|
|
Product
|
$
529.3
|
|
$
529.9
|
|
$
1,562.8
|
|
$
1,579.3
|
Service and
other
|
103.3
|
|
96.2
|
|
307.3
|
|
290.9
|
Total
revenues
|
632.6
|
|
626.1
|
|
1,870.1
|
|
1,870.2
|
Cost of
revenues:
|
|
|
|
|
|
|
|
Product
|
186.7
|
|
187.6
|
|
549.3
|
|
617.2
|
Amortization of
intangible assets
|
80.5
|
|
76.0
|
|
234.1
|
|
227.0
|
Impairment of
intangible assets
|
—
|
|
1.7
|
|
26.6
|
|
1.7
|
Service and
other
|
52.6
|
|
51.0
|
|
159.6
|
|
153.5
|
Total cost of
revenues
|
319.8
|
|
316.3
|
|
969.6
|
|
999.4
|
Gross
profit
|
312.8
|
|
309.8
|
|
900.5
|
|
870.8
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
Research and
development
|
52.5
|
|
47.8
|
|
151.1
|
|
148.9
|
Selling and
marketing
|
83.0
|
|
82.9
|
|
245.0
|
|
265.4
|
General and
administrative
|
64.7
|
|
60.5
|
|
194.6
|
|
179.7
|
Amortization of
intangible assets
|
29.7
|
|
28.7
|
|
85.0
|
|
85.9
|
Contingent
consideration
|
—
|
|
22.1
|
|
—
|
|
91.8
|
Restructuring and
divestiture
charges
|
6.7
|
|
6.7
|
|
36.6
|
|
23.1
|
Impairment of
intangible assets
|
—
|
|
—
|
|
0.5
|
|
—
|
Gain on sale of
intellectual property
|
—
|
|
—
|
|
—
|
|
(53.9)
|
Total operating
expenses
|
236.6
|
|
248.7
|
|
712.8
|
|
740.9
|
Income from
operations
|
76.2
|
|
61.1
|
|
187.7
|
|
129.9
|
|
|
|
|
|
|
|
|
Other
expense:
|
|
|
|
|
|
|
|
Interest
expense
|
(52.4)
|
|
(67.2)
|
|
(168.1)
|
|
(215.3)
|
Other (expense)
income, net
|
(1.2)
|
|
(0.9)
|
|
(2.7)
|
|
0.6
|
Debt extinguishment
loss
|
—
|
|
—
|
|
(7.4)
|
|
(3.2)
|
Total other
expense
|
(53.6)
|
|
(68.1)
|
|
(178.2)
|
|
(217.9)
|
Income (loss) before
income taxes
|
22.6
|
|
(7.0)
|
|
9.5
|
|
(88.0)
|
Provision (benefit)
for income taxes
|
11.3
|
|
4.0
|
|
20.3
|
|
(29.1)
|
Net income
(loss)
|
$
11.3
|
|
$
(11.0)
|
|
$
(10.8)
|
|
$
(58.9)
|
Net income (loss)
per common share:
|
|
|
|
|
|
|
|
Basic
|
$
0.04
|
|
$
(0.04)
|
|
$
(0.04)
|
|
$
(0.22)
|
Diluted
|
$
0.04
|
|
$
(0.04)
|
|
$
(0.04)
|
|
$
(0.22)
|
Weighted average
number of shares
outstanding:
|
|
|
|
|
|
|
|
Basic
|
276,843
|
|
269,430
|
|
274,713
|
|
267,983
|
Diluted
|
279,205
|
|
269,430
|
|
274,713
|
|
267,983
|
HOLOGIC,
INC.
|
RECONCILIATION OF
GAAP REVENUES, EPS AND NET INCOME (LOSS) TO NON-GAAP REVENUES, EPS,
NET INCOME AND ADJUSTED EBITDA
|
(Unaudited)
|
(In millions, except
earnings per share)
|
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
|
June 28,
2014
|
|
June 29,
2013
|
|
June 28,
2014
|
|
June 29,
2013
|
|
|
|
|
|
|
|
|
|
|
Revenues:
|
|
|
|
|
|
|
|
|
GAAP
revenues
|
$
632.6
|
|
$
626.1
|
|
$
1,870.1
|
|
$
1,870.2
|
|
Adjustment
primarily related to blood
screening collaboration
|
—
|
|
—
|
|
—
|
|
19.7
|
(1)
|
Non-GAAP
revenues
|
$
632.6
|
|
$
626.1
|
|
$
1,870.1
|
|
$
1,889.9
|
|
|
|
|
|
|
|
|
|
|
Earnings (loss)
per share:
|
|
|
|
|
|
|
|
|
GAAP earnings (loss)
per share - Diluted
|
$
0.04
|
|
$
(0.04)
|
|
$
(0.04)
|
|
$
(0.22)
|
|
Adjustment to net
earnings (loss) (as
detailed below)
|
0.33
|
|
0.42
|
|
1.12
|
|
1.32
|
|
Non-GAAP earnings per
share – diluted
|
$
0.37
|
|
$
0.38
|
|
$
1.08
|
|
$
1.10
|
(2)
|
|
|
|
|
|
|
|
|
|
Net income
(loss):
|
|
|
|
|
|
|
|
|
GAAP net income
(loss)
|
$
11.3
|
|
$
(11.0)
|
|
$
(10.8)
|
|
$
(58.9)
|
|
Adjustments:
|
|
|
|
|
|
|
|
|
Contingent revenue
primarily from blood
screening collaboration
|
—
|
|
—
|
|
—
|
|
19.7
|
(1)
|
Amortization of
intangible assets
|
110.2
|
|
104.7
|
|
319.1
|
|
312.9
|
(3)
|
Contingent
consideration
|
—
|
|
22.1
|
|
—
|
|
91.8
|
(4)
|
Non-cash interest
expense relating to
convertible notes
|
8.5
|
|
11.6
|
|
28.4
|
|
40.9
|
(5)
|
Restructuring,
divestiture and acquisition-
related charges
|
9.4
|
|
12.6
|
|
48.4
|
|
42.0
|
(6)
|
Fair value
adjustments
|
3.0
|
|
3.1
|
|
9.2
|
|
61.4
|
(7)
|
Gain on sale of
intellectual property
|
—
|
|
—
|
|
—
|
|
(53.9)
|
(8)
|
Debt extinguishment
and related charges
|
—
|
|
—
|
|
8.4
|
|
9.7
|
(9)
|
Impairment of
intangible assets
|
—
|
|
1.7
|
|
27.1
|
|
1.7
|
(10)
|
Other charges,
net
|
4.4
|
|
3.0
|
|
9.2
|
|
1.3
|
(11)
|
Income tax effect of
reconciling items
|
(44.4)
|
|
(44.6)
|
|
(139.3)
|
|
(169.7)
|
(12)
|
Non-GAAP net
income
|
$
102.4
|
|
$
103.2
|
|
$
299.7
|
|
$
298.9
|
|
|
|
|
|
|
|
|
|
|
Adjusted
EBITDA:
|
|
|
|
|
|
|
|
|
Non-GAAP net
income
|
$
102.4
|
|
$
103.2
|
|
$
299.7
|
|
$
298.9
|
|
Interest expense, net,
not adjusted above
|
43.6
|
|
55.2
|
|
137.9
|
|
167.2
|
|
Provision for income
taxes
|
55.7
|
|
48.6
|
|
159.6
|
|
140.6
|
|
Depreciation expense,
not adjusted above
|
20.0
|
|
20.4
|
|
60.4
|
|
60.0
|
|
Adjusted
EBITDA
|
$
221.7
|
|
$
227.4
|
|
$
657.6
|
|
$
666.7
|
|
Explanatory Notes to Reconciliations:
(1) To primarily reflect a fair value adjustment relating to
contingent revenue earned and received post acquisition under the
Company's blood screening collaboration, which was eliminated under
purchase accounting.
(2) Non-GAAP earnings per share was calculated based on 279,205 and
272,531 weighted average diluted shares outstanding for the three
months ended June 28, 2014 and
June 29, 2013, respectively, and
277,074 and 271,184 weighted average diluted shares outstanding for
the nine months ended June 28, 2014
and June 29, 2013,
respectively.
(3) To reflect a non-cash charge attributable to the amortization
of intangible assets.
(4) To reflect a charge to operating expenses attributable to
contingent consideration related to certain of the Company's
acquisitions.
(5) To reflect certain non-cash interest expense related to the
Company's convertible notes.
(6) To reflect certain costs associated with the Company's
acquisition(s) and integration plans, which primarily include
retention costs, transfer costs, and asset impairments, as well as
restructuring and divestiture charges.
(7) To reflect non-cash fair value adjustments for: (i) additional
depreciation expense in all periods presented related to the fair
value write-up of fixed assets acquired from Gen-Probe; and (ii)
write-up of inventory acquired from Gen-Probe and sold during the
prior year period.
(8) To reflect a net gain resulting from a cash payment received in
final settlement of an agreement, net of costs associated with this
transaction.
(9) To reflect a non-cash loss related to Credit Agreement
amendments for those creditors who opted not to participate in the
refinancing or for partial extinguishment related to voluntary
prepayments, as well as related third-party transaction
costs.
(10) To reflect a non-cash impairment charge on certain of the
Company's intangible assets related to the MRI breast coils product
line to reflect fair value in fiscal 2014, and other charges
related to developed technology in fiscal 2013.
(11) To reflect the net impact from miscellaneous transactions
during the period.
(12) To reflect an estimated annual effective tax rate of 34.75%
for the three and nine months ended June 28,
2014 and an annual effective tax rate of 32.0% for the three
and nine months ended June 29, 2013
on a non-GAAP basis. The actual rate for the three months ended
June 28, 2014 was 35.2% as a result
of a change in the estimated rate for the year (from 34.5% to
34.75%).
Future Non-GAAP Adjustments:
Future GAAP EPS may be affected by changes in ongoing
assumptions and judgments relating to the Company's acquired
businesses, and may also be affected by nonrecurring, unusual or
unanticipated charges, expenses or gains, which are excluded in the
calculation of the Company's non-GAAP EPS guidance as described in
this press release. It is therefore not practicable to reconcile
non-GAAP EPS guidance to the most comparable GAAP measure.
Use of Non-GAAP Financial Measures:
The Company has presented the following non-GAAP financial
measures in this press release: revenues; net income; EPS; and
adjusted EBITDA. The Company defines its non-GAAP revenues to
primarily include contingent revenue earned post-acquisition under
the blood screening collaboration which was eliminated under
purchase accounting. The Company defines adjusted EBITDA as its
non-GAAP net income plus net interest expense, income taxes, and
depreciation and amortization expense included in its non-GAAP net
income. The Company defines its non-GAAP net income and EPS to
exclude: (i) the amortization of intangible assets; (ii)
acquisition-related charges and effects, such as charges for
contingent consideration, transaction costs, integration costs
including retention, and credits and/ or charges associated with
the write-up of acquired inventory and fixed assets to fair value,
and the effect of a reduction in revenue primarily related to
contingent revenue under the blood screening collaboration,
described above; (iii) non-cash interest expense related to
amortization of the debt discount for convertible debt securities;
(iv) restructuring and divestiture charges; (v) non-cash debt
extinguishment losses and related transaction costs; (vi)
litigation settlement charges (benefits); (vii)
other-than-temporary impairment losses on investments; (viii) other
one-time, nonrecurring, unusual or infrequent charges, expenses or
gains that may not be indicative of the Company's core business
results; and (ix) income taxes related to such adjustments.
The Company believes the use of non-GAAP financial measures is
useful to investors by eliminating certain of the more significant
effects of its acquisitions and related activities, non-cash
charges resulting from the application of GAAP to convertible debt
instruments with cash settlement features, charges related to debt
extinguishment losses, investment impairments, litigation
settlements, and restructuring and divestiture initiatives. These
non-GAAP measures also reflect how Hologic manages its businesses
internally. In addition to the adjustments set forth in the
calculation of the Company's non-GAAP net income and EPS, its
adjusted EBITDA eliminates the effects of financing, income taxes
and the accounting effects of capital spending. As with the items
eliminated in its calculation of non-GAAP net income, these
items may vary for different companies for reasons unrelated to the
overall operating performance of a company's business. When
analyzing the Company's operating performance, investors should not
consider these non-GAAP financial measures as a substitute for net
income prepared in accordance with GAAP.
Contacts:
|
|
Deborah R.
Gordon
|
Al Kildani
|
Vice President,
Investor Relations and
|
Senior Director,
Investor Relations
|
Corporate
Communications
|
(858)
410-8653
|
(781)
999-7716
|
al.kildani@hologic.com
|
deborah.gordon@hologic.com
|
|
SOURCE Hologic, Inc.