Diagnostic device maker Hologic rises aftermarket on 3rd-quarter results and stronger forecast

StocksAssociated Press

Shares of Hologic rose in aftermarket trading after the company reported improved sales of diagnostic testing and digital mammogram devices in its third quarter, and raised its fiscal-year forecasts.

Hologic's third-quarter revenue surpassed Wall Street expectations by more than $40 million. The company said revenue from its breast imaging, digital mammogram and biopsy device business climbed 17 percent compared to a year ago, while revenue from its diagnostic unit grew 5 percent.

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Shares of Hologic Inc. rose $3.17, or 8.3 percent, to $41.20 in aftermarket trading. The stock has climbed 42 percent in 2015 and reached an all-time high of $39.35 earlier this month.

Hologic said its net income more than doubled to $29.4 million, or 10 cents per share. Excluding one-time items the company said it earned 43 cents per share in the third quarter, which ended on June 27. Revenue grew 10 percent to $693.9 million, including $279.5 million from the breast health business and $306.9 million from the diagnostic testing business.

Analysts had forecast net income of 39 cents per share and $652.5 million in revenue, according to Zacks Investment Research.

Hologic is now calling for an adjusted fiscal-year profit of $1.65 to $1.66 per share on $2.69 billion to $2.7 billion in revenue. The Bedford, Massachusetts-based company previously expected $1.57 to $1.59 per share in adjusted net income on $2.6 billion to $2.62 billion in revenue.

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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HOLX at http://www.zacks.com/ap/HOLX

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Keywords: Hologic, Earnings Report