Shares in Hologic (NSDQ:HOLX) rose today after the medical device maker topped expectations on Wall Street for its 4th quarter and fiscal year 2016 earnings.
The Marlborough, Mass.-based company posted profits of $92.9 million, or 33¢ per share, on sales of $726.8 million for the 3 months ended September 24, for bottom-line growth of 268% on sales growth of 3.4% compared with the same period last year.
Adjusted to exclude 1-time items, earnings per share were 2¢ ahead of consensus on The Street, where analysts were looking for revenue of $721.7 million.
For the full year, Hologic posted profits of $330.8 million, or $1.16 per share, on sales of $2.8 billion. The company saw its bottom line grow 151.4% while overall sales grew 4.7% compared to the previous fiscal year.
After adjusting to exclude 1-time items, earnings per share were $1.96, 2¢ ahead of the $1.94 analysts on Wall Street were expecting. Revenues fell right in line with the consensus on the street, which expected $2.83 billion in sales.
“We closed out a very successful fiscal year with another strong performance in the fourth quarter. Our results demonstrate that we are making good progress in building a sustainable growth company, and we look forward to more successes in 2017 based on the strength of our product franchises and the dedication of our people,” prez & CEO Steve MacMillan said in a press release.
The company also released its guidance for the next quarter and the full fiscal year 2017.
For the full year 2017, Hologic said it expects to post adjusted EPS of between $1.23 and $1.27 on sales of $2.94 to $2.98 billion. In the 1st quarter, the company said it expects to see adjusted EPS of between 26¢ and 27¢ with revenue of $720 to $730 million.
“We expect to post good financial results in fiscal 2017 that reflect our emergence as a sustainable growth company. We forecast mid-single-digit revenue growth in constant currency, and EPS growth at roughly double this rate on both a GAAP and non-GAAP basis, as new products and higher international sales supplement continued commercial execution in the United States,” CFO Bob McMahon said in prepared remarks.
Shares rose 5.2% today in response, closing at $37.19.
The post Hologic shares lift on Street-beating Q4 appeared first on MassDevice.