Hologic tops Street 1Q forecasts

MARLBOROUGH, Mass. (AP) _ Hologic Inc. (HOLX) on Wednesday reported fiscal first-quarter profit of $86.5 million.

On a per-share basis, the Marlborough, Massachusetts-based company said it had profit of 30 cents. Earnings, adjusted for amortization costs and restructuring costs, were 52 cents per share.

The results topped Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 51 cents per share.

The medical device maker posted revenue of $734.4 million in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $724.3 million.

For the current quarter ending in April, Hologic expects its per-share earnings to range from 45 cents to 46 cents.

The company said it expects revenue in the range of $675 million to $685 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $721.7 million.

Hologic expects full-year earnings in the range of $1.90 to $1.94 per share, with revenue ranging from $2.79 billion to $2.83 billion.

Hologic shares have risen roughly 2 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $40.85, a climb of 15 percent in the last 12 months.

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

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Keywords: Hologic, Earnings Report