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

BEDFORD, Mass. – 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.

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