BEDFORD, Mass. (AP) — Medical device maker Hologic Inc. said Monday that its fiscal first-quarter net income rose 90 percent from a year ago as revenue grew across its business units. The results beat analysts’ expectations and the company also boosted its annual earnings outlook.
Hologic shares rose $1.27, or 6.6 percent, to $20.47 in after-hours trading following the earnings announcement, after closing the regular session down 18 cents at $19.20.
Net income in the three months to Dec. 24 rose to $20.8 million, or 8 cents per share, from $10.9 million, or 4 cents per share, a year earlier.
Excluding the amortization of intangible assets and other items, earnings came to 34 cents per share, above the 32 cents expected by analysts polled by FactSet.
Revenue rose 9 percent to $472.7 million from $432.6 million a year ago. That was also higher than the $466.3 million expected.
The company said it expects second-quarter adjusted earnings of 33 cents per share on revenue of $470 million to $475 million. The per-share earnings was in line with analysts’ forecasts, while the midpoint of the revenue guidance was slightly higher than the $470.9 million expected.
Hologic said it boosted its annual earnings guidance by a penny to $1.36 to $1.38 per share, but reaffirmed its revenue guidance of $1.9 billion to $1.93 billion. Analysts were looking for adjusted earnings of $1.36 per share on $1.91 billion in revenue.