Hologic grows Q1 revenue 5%
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Hologic's Marlborough headquarters
Marlborough medical device company Hologic is raising its full-year expectations after a promising first quarter in which revenue grew 5 percent.
The company last week reported first quarter revenues of $830.7 million, up from the $791.1 reported for the first quarter of 2018.
Hologic reported double-digits gains in breast health and molecular diagnostics: 12.7 percent and 10.6 percent, respectively.
The company noted its U.S. revenue of $621.8 million was an increase of 4.1 percent, and its international revenue of $208.9 million increased almost 8 percent.
Hologic’s profits of $98.6 million took a hit from last year’s first quarter, when the company reported $406.7 million largely due to a tax benefit of $329.2 million after Congress passed a sweeping corporate tax reform law.
With strong revenues, the company said it now expects full-year revenues of at least $3.305 billion, up from its previous guidance of $3.29 billion. That would represent a revenue increase of at least 2.71 percent.
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