Stock Monitor: BIOLASE Post Earnings Reporting
LONDON, UK / ACCESSWIRE / May 31, 2018 / If you want access to our free earnings report on Hologic, Inc. (NASDAQ: HOLX), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=HOLX. The Company reported its second quarter fiscal 2018 operating and financial results on May 02, 2018. The medical device maker beat revenue estimates, while its earnings were in-line with market expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:
www.active-investors.com/registration-sg
Active-Investors.com is currently working on the research report for BIOLASE, Inc. (NASDAQ: BIOL), which also belongs to the Healthcare sector as the Company Hologic. Do not miss out and become a member today for free to access this upcoming report at:
www.active-investors.com/registration-sg/?symbol=BIOL
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Hologic most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/?symbol=HOLX
Earnings Highlights and Summary
For the second quarter of the fiscal year 2018, Hologic’s revenues increased 10.3% to $789.3 million compared to $715.4 million in Q2 FY17. Excluding the acquired medical aesthetics and divested blood screening businesses, the Company’s revenues increased 4.8%, or 2.6% in constant currency. Hologic’s revenue numbers exceeded analysts’ estimates of $780.1 million.
During Q2 FY18, Hologic’s gross margin was 52.6% on a GAAP basis, and 62.7% on a non-GAAP basis. The Company’s GAAP gross margin declined by 170 basis points, while its non-GAAP gross margin declined by 120 basis points, primarily due to geographic and product sales mix.
For Q2 FY18, Hologic’s operating expenses were $1.02 billion on a GAAP basis compared to negative $611.1 million in Q2 FY17; increasing primarily due to the Cynosure impairment charges compared to a gain of $899.7 million from the sale of the Company’s blood screening business in the prior year’s same period. On a non-GAAP basis, Hologic’s operating expenses increased 19.7% to $266.9 million.
Hologic’s GAAP net loss was $681.4 million, or $2.46 per diluted share, in Q2 FY18 compared to a net income of $526.8 million, or $1.84 per diluted share, in Q2 FY17, declining primarily due to non-cash impairment charges for goodwill and in-process research and development (R&D) of $685.7 million and $46.0 million, respectively, related to Hologic’s Cynosure business, and the gain on the sale of the Company’s blood screening business in the prior year’s comparable period.
Hologic’s non-GAAP earnings jumped 6.0% to $0.53 per diluted share in Q2 FY18 compared to $0.50 per diluted share in Q2 FY17. The Company’s earnings were in-line with Wall Street’s estimates of $0.53 per share.
Revenue Details
During Q2 FY18, Hologic’s US revenues rose 3.3% to $588.5 million on a y-o-y basis. Excluding the acquired medical aesthetics and divested blood screening businesses, the Company’s US revenues decreased slightly. The Company’s International revenues surged 37.8% to $200.8 million on a y-o-y basis in the reported quarter. Excluding the acquired medical aesthetics and divested blood screening businesses, the Company’s International revenues increased 26.4% in the reported quarter.
For Q2 FY18, Hologic’s Breast Health revenues totaled $300.1 million, reflecting an increase of 7.0% on a y-o-y basis, driven by strong international sales, new products, and service revenues.
In its Diagnostics segment, Hologic’s GYN Surgical revenues fell 1.7% to $99.4 million on a y-o-y basis. The Company’s MyoSure® revenues jumped 13.5% to $52.7 million compared to the year ago corresponding period, while NovaSure® revenues declined 14.5% to $46.7 million on a y-o-y basis.
Hologic’s Medical Aesthetics segment generated revenues of $85.5 million in Q2 FY18, reflecting an increase of 11.5% compared to pro-forma net sales of $76.7 million in Q2 FY17, during the majority of which Cynosure was an independent Company.
For Q2 FY18, Hologic’s Skeletal Health revenues increased 12.6% to $24.6 million compared to $21.8 million in Q2 FY17.
Financial Position
During Q2 FY18, Hologic repurchased 2.8 million shares of its common stock for $106.5 million.
Hologic’s total debt outstanding was $3.4 billion at the end of Q2 FY18. As of March 31, 2018, the Company had cash and equivalents of $0.6 billion, and a net leverage ratio of 2.7 times.
On a trailing 12-month basis, the Company’s adjusted return on invested capital (ROIC) declined 60 basis points to 12.6% versus the prior year’s comparable period.
Outlook
For the full fiscal year 2018, Hologic is forecasting revenues to range from $3.18 billion to $3.21 billion, with reported growth rates between 4.0% and 4.9%. The Company re-affirmed its earnings per diluted share to be in the band of $2.22 to $2.27, which represents a reported growth of between 9.4% and 11.8%.
For the third quarter of the fiscal year 2018, Hologic is projecting revenues between $795 million and $810 million, which reflects a decline of 2.8% to a decline of 1% on a constant currency basis. On the bottom-line, the Company expect earnings per share of $0.55 to $0.57 for Q3 FY18, which implies growth rates of between 10% and 14%.
Stock Performance Snapshot
May 30, 2018 – At Wednesday’s closing bell, Hologic’s stock climbed 1.14%, ending the trading session at $39.02.
Volume traded for the day: 1.39 million shares.
Stock performance in the last month – up 0.59%; and previous three-month period – up 0.49%
After yesterday’s close, Hologic’s market cap was at $10.81 billion.
The stock is part of the Healthcare sector, categorized under the Medical Instruments & Supplies industry. This sector was up 1.4% at the end of the session.
Active-Investors:
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third-party research service company (the “Reviewer”) represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
NO WARRANTY
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visithttp://active-investors.com/legal-disclaimer/.
CONTACT
For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Email: info@active-investors.com
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Active-Investors
ReleaseID: 501326