Business & Finance
Hologic anticipates total revenues of about USD1,609.8m for Q1 fiscal 2021
11 January 2021 -

Medical technology company Hologic Inc (Nasdaq:HOLX) on Friday reported total expected revenues of about USD1,609.8m for first fiscal quarter ended 26 December 2020 in advance of its participation in the 39th Annual JP Morgan Healthcare Conference scheduled for 11 January 2021.

This marks an improvement of 89.3% when compared to the comparable prior year period or 86.5% in constant currency. The preliminary results are compared to the company's most recent guidance range of USD1,350 to USD1,425m.

The company said its strong momentum continued in the first quarter of fiscal 2021 as organic revenue more than doubled, well ahead of its prior expectations and expects to provide its full financial results for the first quarter on 27 January 2021.

Concurrently, the company's board authorised a new, five-year, USD1.0bn share repurchase plan as well as announced the repurchase of nearly 1.5m shares of stock for USD101m in the first quarter under its prior authorization.

In the first quarter, the company added that it paid off the USD250m balance on its revolving credit facility.