Benzinga | Nov 2, 2021 10:52AM EDT

Hologic Q4 Sales Fell On Lower COVID-19 Assay Sales; Guides FY22 Ahead Of Consensus

* Hologic Inc (NASDAQ:HOLX) posted fourth-quarter revenues of $1.32 billion, down 2.3% Y/Y but beating analysts' average estimate of $1.04 billion. The drop in sales was driven by lower molecular diagnostic and COVID-19 assay sales.

* Q4 product revenues dropped 5% Y/Y to $1.14 billion, while service and other revenues rose 24% to $178.7 million.

* Hologic reported Q4 diagnostics revenues of $836.8 million, down 11%. Excluding its divested blood screening business, diagnostics revenues were $820.5 million, down 12%.

* Outside of its diagnostics business, Hologic's Q4 breast health product revenues rose 16% to $334.2 million, while its skeletal health product revenues were up 27% to $23.6 million. Gynecology surgical revenues increased 22% to $122.0 million.

* Q4 adjusted EPS declined 22% to $1.61 but surpassed the consensus of $1.01.

* Guidance: For Q1 FY22, Hologic expects revenue of $1.10 billion - $1.15 billion (consensus $991.63 million) and adjusted EPS of $1.15 - $1.25 (consensus $0.96).

* For FY22, the firm expects revenues of $3.75 billion - $4.00 billion (consensus of $3.87 billion), with adjusted EPS of $3.55 - $3.85 (consensus $3.69).

* Price Action: HOLX shares closed at $72.68 on Monday.