BEDFORD (dpa-AFX) - Diagnostic products maker Hologic Inc. (HOLX), Monday reported a net loss for the fourth quarter, hurt mainly by amortization and acquisition charges, even as revenues rose sharply aided by the recent acquisition of Gen-Probe. Excluding items, Hologic reported a profit that was in line with Street estimates, while revenues exceeded expectations.
The company has forecast weak adjusted earnings outlook for the full year 2013, sending its stock down over 2 percent in after-hours trade.
Hologic makes diagnostics products, medical imaging systems and surgical products that cater to the needs of women. The company's revenue for the quarter were up 4.2 percent year-over-year.
Results were helped by Hologic's $3.8 billion acquisition of Gen-Probe in August. The acquired business contributed revenues of $89.5 million in its first two months.
Overall, Bedford, Massachusetts-based Hologic reported fourth-quarter revenues of $588.6 million, up from $467 million a year ago. Analysts on consensus estimated revenues of $581.62 million.
Hologic said growth was essentially propped up by strong international ThinPrep sales, improvement in the molecular diagnostics product lines, as well as in Breast Health business.
Expenses for the quarter escalated to $632 million from $394 million last year, mainly on amortization charges of $91 million and acquisition costs of $39 million.
The expenses led the company to report a fourth-quarter net loss of $77.8 million or $0.29 per share, compared with net income of $27.6 million or $0.10 per share last year.
Excluding items, adjusted earnings for the quarter were $98 million or $0.37 per share, compared with $89 million or $0.34 per share in the prior year.
On average, 14 analysts polled by Thomson Reuters expected earnings of $0.37 per share for the quarter. Analysts' estimates typically exclude special items.
Hologic expects first-quarter earnings of $0.37 per share and revenues of $640 million to $645 million. Analysts currently expect earnings of $0.40 per share on revenues of $660.88 million.
Hologic said its outlook excludes one-time items.
For the full year 2013, the company expects earnings of $1.56 to $1.58 per share and revenues of about $2.61 billion to $2.64 billion. Analysts currently estimate earnings of $1.64 per share on revenues of $2.68 billion.
Hologic stock closed Monday at $20.39, up 0.34%, on a volume of about 2.4 million shares on the Nasdaq. In after hours, the stock dropped 1.57%.
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