Hologic Posts Q2 Loss On Impairment Charges Despite Stable Revenue

(RTTNews) - 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.