Sector: Healthcare|Industry: Medical Instruments & Supplies|Market Cap: $16.61B|Employees: 7.1K
Hologic, Inc. is a developer, manufacturer, and supplier of premium diagnostics products, medical imaging systems, and surgical products focused on women's health and well-being. The company's core business model revolves around early detection and treatment, with primary revenue streams from molecular diagnostic assays, 3D digital mammography systems, and hysteroscopic tissue removal systems. Hologic operates in key markets globally, with a strong geographic presence in the U.S., Europe, and Asia-Pacific.
Total revenue increased slightly from $1,013.1 million to $1,021.8 million YoY. Product revenue decreased from $828.1 million to $817.9 million, primarily due to a decrease in Breast Health revenue, offsetting gains in Diagnostics and GYN Surgical.
Operating income increased significantly from $198.2 million to $229.8 million YoY. This increase is attributed to a decrease in operating expenses, partially offset by a decline in gross profit.
Net income increased from $246.5 million to $201.0 million YoY. This increase is due to improved operating income and a favorable tax rate compared to the prior year, which included a significant discrete tax benefit.