BEDFORD (dpa-AFX) - Hologic, Inc. (HOLX) Thursday reported a net loss for the fiscal second quarter ended March 29, driven by significant impairment charges, despite largely stable revenue year over year.
The company posted a net loss of $17.4 million, or $0.08 per share, compared to net income of $169.9 million, or $0.72 per share, in the same quarter last year. The decline was primarily due to $220.9 million in impairment charges on intangible assets, compared to $26.8 million in the prior-year period.
Revenue for the quarter came in at $1.01 billion, slightly down from $1.02 billion a year earlier. Product revenue declined to $792.7 million from $828.0 million, while service and other revenue rose to $212.6 million from $189.8 million.
Operating income swung to a loss of $7.0 million from a profit of $210.4 million in the previous year, as the impairment and higher general and administrative expenses weighed on results.
HOLX closed Thursday's trading at $57.28 down $0.92 or 1.58 percent on the Nasdaq.
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