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On Feb. 2, 2009, medical test maker

Hologic

(HOLX) - Get Report

reported that it swung to net profit in Q1 FY09 on higher revenues. Net profit for the latest first stood at $47.99 million or $0.19 per share, compared to a net loss of $358.61 million or $1.65 per share in Q1 FY08. On a non-GAAP basis, net income rose to $80.19 million or $0.31 per share, beating the most recent consensus estimate of $0.29 per share.

Revenue surged 15.6% to $429.23 million from $371.45 million a year ago, attributable to the inclusion of 13 weeks of revenues from the diagnostics, surgical, and MammoSite product lines acquired in the merger with

Cytyc

. Segment-wise, Breast Health revenue increased 1.1% to $199.10 million, driven by an increase in service revenue related to Selenia systems and higher revenues from its Suros breast biopsy products. Revenues from the Diagnostics segments totaled $134.60 million, including $8.50 million from Third Wave. GYN Surgical revenues grew 36.3% to $68.00 million from $49.9 million. Finally, Skeletal Health revenues rose to $27.50 million, up from $24.30 million in Q1 FY08, as a result of higher system sales of the osteoporosis assessment and mini C-arm product lines.

During the quarter under review, the company completed a two-for-one stock split, resulting in the form of a stock dividend with a record date of March 21, 2008. Recently, HOLX announced that it has received CE marking approval for its Adiana permanent contraception system.

Looking forward, Hologic expects its Q2 FY09 non-GAAP adjusted EPS to be in the range of $0.26 to $0.28 per share on revenue of between $400.00 million and $410.00 million. For FY09, the company expects revenue to be approximately $1.63 billion to $1.68 billion with non-GAAP adjusted EPS in the range of $1.10 to $1.15 per share.

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