Hologic (NSDQ:HOLX) posted second-quarter results today that trailed the consensus forecast, but the company forecasts a strong third quarter fueled by strong COVID-19 test revenue.
The Marlborough, Mass.-based company posted profits of $1.09 billion, or $2.38 per share, on sales of $1.54 billion for the three months ended March 27, 2020. Sales growth in the quarter was 103.4% year-over-year for a 40.3% bottom-line gain.
Adjusted to exclude one-time items, earnings per share were $2.59, three cents beneath the consensus forecast of $2.62 per share on sales of $9.9 million.
“Hologic posted very strong financial results in our second fiscal quarter in line with our guidance,” said Steve MacMillan, the company’s CEO. “Organic revenue doubled, driven by strong recovery and momentum in our base businesses, as well as our continued response to the COVID-19 pandemic. And earnings per share more than quadrupled.”
The company is upb…