Hologic Announces Preliminary Revenue Results for Second Quarter of Fiscal 2020, Withdraws 2020 Financial Guidance due to COVID-19 Pandemic

Hologic, Inc. (Nasdaq: HOLX) announced today preliminary revenue results for its second fiscal quarter ended March 28, 2020, and withdrew its 2020 financial guidance due to the uncertain economic impact of the COVID-19 pandemic.

The Company expects to report total revenues of $756.1 million, a decrease of 7.6% compared to the prior year period, or 7.1% in constant currency. Excluding acquisitions and divestitures, organic revenues of $735.1 million are expected to increase 0.5%, or 1.1% in constant currency.

“Our second quarter revenue results reflect the strong underlying momentum that has been building at Hologic over the last few years, and give us confidence that we will emerge from the current COVID-19 pandemic as a stronger company,” said Steve MacMillan, Hologic’s Chairman, President and Chief Executive Officer. “We performed very well through most of the quarter, led by our U.S. Surgical and Diagnostics businesses, and our European franchises. However, disruptions caused by COVID-19 had a significant negative impact on sales in late March, as elective procedures and appointments were deferred, and our customers focused on responding to the pandemic. It has become clear that a lynchpin of that response is increasing diagnostic testing for the virus, and we are proud to be playing a leading role in this effort.”

For the second quarter of fiscal 2020, global revenues by division are expected to be:

$s in millions	Preliminary Q2’20	Q2’19	Reported Change	Constant Currency Change
Diagnostics	$319.2	$296.7	7.6%	8.3%
Excluding Blood	$304.0	$283.3	7.3%	8.0%
Breast Health	$307.8	$321.5	(4.3)%	(3.7)%
Excluding SuperSonic Imagine (SSI)	$302.0	$321.5