Hologic Swings To 4Q Profit, Names New CEO

BEDFORD, Mass. (AP) — Hologic Inc., which makes products to detect breast and cervical cancer, posted a profit for its fiscal fourth quarter in contrast to a loss a year ago.

But its sales fell and it offered guidance for the first quarter and fiscal 2010 that was below analysts' expectations.

The company said it continues to be hurt by reduced and delayed hospital spending on equipment amid the economic slump.

Hologic also said President and Chief Operating Officer Robert Cascella was named CEO last week. He succeeds Jack Cumming, who will remain chairman and a member of the executive management team.

The company said after the markets closed Monday that it earned $34.9 million, or 13 cents per share, in the three months ended Sept. 26 compared with a loss of $144.4 million, or 56 cents per share, a year ago. The prior-year results included nearly $200 million in charges linked to its acquisition of HPV virus test developer Third Wave.

Excluding one-time items, Hologic would have earned 28 cents per share in the latest period — a penny a share above what analysts surveyed by Thomson Reueters expected.