Hologic struggles in fiscal Q2, as Dx firms succeed
This article was originally published in Clinica
Executive Summary
Hologic had a poor start to the year after recording a drop in revenues and a net loss. The company, which develops diagnostics, imaging and surgical products for women’s healthcare, pointed to a decline in demand for capital equipment as its overall sales fell by 7% to $402m during its second fiscal quarter of 2009. According to Hologic, the drop in revenue was largely attributable to a decline in sales of its Selenia digital mammography system. The firm claims that the current economic climate has resulted in delays and reductions in hospital capital spending and longer sales cycles for the Selenia systems. The Bedford, Massachusetts company recorded a net loss of $2.3bn, compared to an income of $56m in Q2 of fiscal 2008, after it was hit by $2.3bn of goodwill impairment charges relating to its acquisition of Cytyc in 2007.