Hologic Sees Q1 Revenue Above Guidance Range - Quick Facts

(RTTNews) - Hologic, Inc. (HOLX) announced preliminary revenue results for its first fiscal quarter ended December 30, 2017.

The company expects to report total revenues for the first quarter of about $791 million, an increase of almost 8 percent compared to the prior-year period, and a 7 percent increase in constant currency. These preliminary results compare to the company's prior revenue guidance range of $775 million to $790 million.

On average, fifteen analysts polled by Thomson Reuters expect the company to report revenues of $784.76 million for the quarter. Analysts' estimates typically exclude special items.

The company noted that revenue changes compared to the prior year period are affected by the divestiture of the blood screening business, which closed in January of 2017, and the acquisition of Cynosure, which closed in March of 2017. Hologic also had four fewer selling days in the first quarter of fiscal 2018 than in the prior year period.

In addition, primarily as a result of the recent passage of comprehensive U.S. tax reform legislation, Hologic expects its adjusted effective tax rate to be approximately 23 percent to 24 percent in fiscal 2018, lower than its prior guidance of approximately 31 percent.

The company expects its GAAP effective tax rate to be negative for the year, largely based on the revaluation of its deferred taxes, but added that the analysis was ongoing.

Hologic plans to release its financial results for the first quarter of fiscal 2018 on Thursday, February 8, 2018, after the market closes.