Diagnostics growth drives Hologic's Q1 results higher

By LabPulse.com staff writers

January 8, 2021 -- Strong growth in its molecular diagnostics business -- with revenues almost tripling due to the COVID-19 pandemic -- helped drive first-quarter preliminary financial results for Hologic.

For the first quarter (end-December 26), Hologic recorded overall revenues of approximately $1.609 billion, up 89.3% compared with $850 million in the same quarter last year. The company did not report net income in the preliminary results.

The revenue increase was driven by the firm's molecular diagnostics revenue, which increased by 262% to $1.138 billion, compared with $311.5 million in the first quarter of fiscal 2020. The growth was due to demand for Hologic's SARS-CoV-2 assays.

Hologic plans to release its full financial results for the first quarter on January 27 once its financial close processes are completed.

Hologic buys Biotheranostics molecular testing firm
Hologic continues to start 2021 with a bang. The company announced on January 5 that it is acquiring Biotheranostics, a developer of molecular tests for...
FDA OK's new claim for Hologic's HIV assay
The U.S. Food and Drug Administration (FDA) has approved Hologic's diagnostic claim for its HIV-1 viral load monitoring assay, the Aptima HIV-1 Quant...
Hologic wins CE Mark for cervical cancer screening system
Hologic has secured the CE Mark for its Genius Digital Diagnostics digital cytology platform for cervical cancer screening. The system combines a new...
Hologic Q4 sales boom on diagnostics revenues
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....
Hologic scores $119M COVID-19 testing contract
The U.S. government has awarded a $119 million contract to Hologic to expand its production capacity for COVID-19 molecular tests.

Copyright © 2021 LabPulse.com

Last Updated ls 1/8/2021 1:25:12 PM



Subscribe Today
Do you want to be a Microbiology Insider?

When LabPulse gets hot new information, our Insiders are the first to find out. Stay current in today's competitive market by receiving our exclusive free email updates.

Yes, Keep Me Current