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Hologic achieves better-than-expected revenues in Q3 2017
Hologic has achieved a better-than-expected revenue performance during the third quarter of its 2017 fiscal year, which ended on July 1st 2017.
The company's revenue total for the three-month period came to $806.1 million (620.79 million pounds), which represented a year-on-year increase of 12.4 percent, or 13.1 percent in constant currency terms.
Q3 marked a new strategic shift for Hologic following the divestiture of the company's blood screening business and the acquisition of Cynosure, both of which closed in the second quarter.
The firm was able to exceed its own internal revenue guidance thanks to strong US medical aesthetics revenue, global molecular sales and non-US sales of breast health and GYN surgical products.
For the full year, the company expects a revenue increase of between 7.3 percent and 7.8 percent.
Steve MacMillan, Hologic's chairman, president and chief executive officer, said: "Our molecular diagnostics and international businesses are clearly emerging as new growth drivers, and both grew organically at a low double-digit rate in constant currency. In addition, Cynosure revenue finished in line with our guidance, driven by strong international performance."
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