Hologic has reported a net income of $194.5m, or $0.82 per diluted share, for the third quarter ended 29 June 2024, compared to a loss of $40.5, or $0.16 per diluted share, for the respective period in 2023.
The company’s net income for the third quarter of 2024 (Q3 2024) increased by 14% compared to $169.9m, or $0.72 per diluted share, for the second quarter of 2024 (Q2 2024).
Hologic reported total revenues of $1.01bn for Q3 2024, a 3% rise compared to $984.4m for the same quarter in 2023, and almost unchanged compared to Q2 2024.
The medical technology company reported total operating expenses of $316.3m for Q3 2024, a 13% decline compared to $366.1m for the same period the previous year.
It has reported an income before income tax of $240.7m for Q3 2024, compared to $12.1m for the respective period in 2023.
The medical device company attributed the increase in its revenue to higher sales in molecular diagnostics, breast imaging, and surgical divisions.
Hologic chairman, president and CEO Stephen MacMillan said: “In our third quarter of fiscal 2024, Hologic returns to top-line reported growth and once again exceeded the high-end of our guidance for both the top and bottom-line.
“Our strong fiscal quarter and year-to-date results continue to highlight the durable strength across our broad portfolio, with our Diagnostics (ex-COVID), Breast Health, and Surgical franchises delivering at or above our expectations. We are excited to finish fiscal 2024 strong as we continue to build for the long term.”
Hologic reported a net income of $610.9m, or $2.57 per diluted share, for the first nine months of 2024, a 67% rise compared to $365.4m, or $1.47 per diluted share, for the respective period in the previous year.
The medical technology company reported total revenues of $3.04bn for the first nine months of 2024, a 1.3% decline compared to $3.08bn for the same period in 2023.
Hologic reported total operating expenses of $1.01bn for the nine months of 2024, a 1.7% decline compared to $1.03bn for the respective period in the previous year.
The medical device company reported an income before income taxes of $643.5m for the first nine months of 2024, a 21% rise compared to $530.5m for the same period in 2023.
Recently, Hologic has completed its previously announced acquisition of Endomagnetics, a UK-based developer of breast cancer surgery technologies, for up to $310m.
