The approval by regulators of the Selenia Dimensions mammogram device of Hologic, Inc. which generates the breast’s 3D images, has resulted to a 32-percent increase in its profit during the fiscal third quarter.
Hologic said its net income has increased from 10 cents per share or $27.4 million in the three months ended June 25 last year to 14 cents per share or $36.2 million during the same period this year.
Hologic said its 32-cents per share earnings matched the expectations of the analysts surveyed by FactSet. However, the 7-percent increase in revenue from $420.7 million to $451.1 million has topped the analyst expectations of only $446.8 million.
Hologic’s Selenia Dimensions, which generates two and three-dimensional images of the breast, is the first 3D mammography device that can generate more accurate diagnoses for women without need of additional scans.
The system, which was approved in February by the Food and Drug Administration, has improved the quarterly revenue of Hologic as customers started to buy Dimensions instead of the older products.
The company said its breast health revenue increased by eight percent to $205.2 million. However, the acquisition of MRI technology company Sentinelle Medical in August 2010 and the greater sales of breast biopsy products contributed to its revenue.
The company called for a $1.24 TO $1.26 per share net income excluding its one-time items to back its profit forecast for fiscal 2011. Hologic has slightly increased its revenue from its previous estimate of $1.76 to $1.77 billion to $1.77 billion to $1.78 billion.