May 4, 2010
Hologic Returns To Profitability In Q2
By Matthew L. Brown
Hologic Inc. said it swung to a $20.6 million profit in its second quarter from a $2.3 billion loss a year earlier, when it accounted for a variety of charges, expenses and settlements.
Those charges included a $12.5 million charge related to a patent litigation settlement, and about $107 million in charges related to the amortization of intangible assets, among others.
Revenue for the quarter was $418 million compared to $402 million a year earlier.
The Bedford-based medical device company, which bought Marlborough's Cytyc Corp. in 2007, ended the quarter with $431 million in cash and equivalents compared to $293 million last year.
It also slightly boosted spending on research and development, as well as selling and marketing.
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