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Hologic Inc. (HOLX+0.52%) has submitted its 10-Q filing for the quarterly period ended December 28, 2024.
The filing reports total revenues of $1,021.8 million for the quarter, a slight increase from $1,013.1 million in the same quarter of the previous year. The increase was driven by higher sales in the Diagnostics and GYN Surgical segments.
Diagnostics revenue increased by 5.1% to $470.6 million, primarily due to higher sales of molecular diagnostics assays. Operating income for this segment rose significantly by 140.7% to $118.9 million.
Breast Health revenue decreased by 2.3% to $369.1 million, mainly due to lower sales of digital mammography systems. Operating income for the segment fell by 34.0% to $67.5 million.
GYN Surgical revenue increased by 2.5% to $166.3 million, supported by higher sales of the Fluent fluid management system and MyoSure devices. Operating income for this segment increased by 7.9% to $46.6 million.
Skeletal Health revenue declined by 37.8% to $15.8 million, primarily due to a temporary stop-ship of Horizon DXA systems. The segment reported an operating loss of $3.2 million.
The company reported a net income of $201.0 million for the quarter, down from $246.5 million in the previous year. The decrease in net income was attributed to higher operating expenses and lower interest income.
Hologic also completed the acquisition of Endomagnetics Ltd for $313.9 million, which contributed to the Breast Health segment's revenues.
The filing details a new stock repurchase program authorized for up to $1.5 billion, with $1.17 billion remaining available as of December 28, 2024.
Hologic's cash and cash equivalents totaled $1,782.1 million at the end of the quarter, with a net decrease of $378.1 million primarily due to stock repurchases and capital expenditures.
The company remains focused on expanding its product offerings and improving operational efficiencies across its segments.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Hologic Inc. quarterly 10-Q report dated February 6, 2025. To report an error, please email earnings@qz.com.