Hologic Q4 sales boom on diagnostics revenues

2020 01 02 21 24 9838 Hologic Rsna 2019 400

Booming revenues in its Molecular Diagnostics segment due to the COVID-19 pandemic helped Hologic post a 55.6% increase in sales for its fourth quarter. The company also swung into the black compared with a net loss in the same period the year before.

For the fourth quarter (end-September 26), Hologic recorded revenues of $1.3 billion compared with $865.8 million in the same quarter last year. The increase was bolstered by the company's Worldwide Molecular Diagnostics revenue, which increased by 375.8% to $818.9 million, due to demand for its SARS-CoV-2 assays.

Net income for the quarter was $493.6 million, compared with a net loss in 2019 of $123.5 million.

For the year, Hologic posted revenue of $3.776 billion, up 12% compared with $3.367 billion in 2019. The company's net income for the year was $1.1 billion, compared with a $203.6 million net loss last year.

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