MARLBOROUGH, Mass., Jan. 27, 2016 /PRNewswire/ -- Hologic, Inc. (Nasdaq: HOLX) announced today the Company’s financial results for the fiscal first quarter ended December 26, 2015. Revenue of $695.2 million increased 6.5% on a reported basis, and 8.1% on a constant currency basis. GAAP diluted EPS of $0.29 increased 190%, and non-GAAP diluted EPS of $0.46 increased 17.9%.
“We are pleased with our first quarter financial results overall,” said Steve MacMillan, Hologic’s Chairman, President and Chief Executive Officer. “Our U.S. businesses again performed exceptionally well, with double-digit revenue growth. This contributed to improvement in our already strong operating margin, and earnings per share growth at nearly three times the rate of revenue.”
Key financial results for the fiscal first quarter are shown below. Throughout this press release, all dollar figures are in millions, except EPS. Unless otherwise noted, all results are on a reported basis, and are compared to the prior year period.
GAAP | Non-GAAP | |||||
Q1'16 | Q1'15 | Change (Reported) | Q1'16 | Q1'15 | Change (Reported) | |
Revenues | $695.2 | $652.8 | 6.5% | $695.2 | $652.8 | 6.5% |
Gross Margin | 54.5% | 51.9% | 260 bps | 65.2% | 63.3% | 190 bps |
Operating Expenses | $253.0 | $235.1 | 7.6% | $221.0 | $198.5 | 11.3% |
Operating Margin | 18.1% | 15.9% | 220 bps | 33.4% | 32.9% | 50 bps |
Net Income | $84.9 | $29.2 | 190.5% | $135.1 | $111.6 | 21.0% |
Diluted EPS | $0.29 | $0.10 | 190.0% | $0.46 | $0.39 | 17.9% |
Revenue Detail
Revenues grew in all four business segments globally:
$s in millions | Q1'16 | Q1'15 | Change (Reported) | Change (Constant |
Cytology & Perinatal | $120.4 | $120.1 | 0.3% | 3.1% |
Molecular Diagnostics | 129.6 | 119.1 | 8.8% | 9.9% |
Blood Screening | 60.7 | 64.9 | (6.5%) | (6.5%) |
Total Diagnostics | $310.7 | $304.1 | 2.2% | 3.7% |
Breast Imaging | 218.1 | 197.5 | 10.4% | 12.0% |
Interventional Breast Solutions | 42.1 | 41.9 | 0.3% | 1.4% |
Other | 2.0 | 2.6 | (23.5%) | (12.8%) |
Total Breast Health | $262.2 | $242.0 | 8.3% | 9.9% |
GYN Surgical | $98.8 | $84.4 | 17.1% | 18.8% |
Skeletal Health | $23.5 | $22.3 | 5.4% | 7.7% |
Total | $695.2 | $652.8 | 6.5% | 8.1% |
Other revenue highlights:
- U.S. sales of $545.1 million increased 12.8%, while international sales of $150.1 million decreased (11.5%) on a reported basis, or (5.4%) in constant currency.
- In Breast Health, revenue from breast imaging products and service totaled $218.1 million, an increase of 10.4% on a reported basis, or 12.0% in constant currency. In the United States, Breast Health revenue of $214.8 million increased 15.3%, as adoption of Hologic’s GeniusTM 3D MammographyTM systems continued to grow. Internationally, Breast Health sales of $47.4 million declined (15.1%), or (8.4%) in constant currency.
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