Hologic offered an early peek into its upcoming quarterly earnings report, during the kickoff of the J.P. Morgan Healthcare Conference.
With sums described as estimates ahead of the company’s full disclosure slated for Feb. 1, Hologic reported that the final three months of 2022 brought in a total of $1.07 billion in sales.
That’s a drop of 27% compared to the COVID-19 testing-fueled surges seen the year before, but still higher than the company expected for the first quarter of its fiscal calendar—with previous guidance pegging revenues between $940 million and $990 million.
“We delivered robust revenue performance in our fiscal first quarter of 2023, with our diagnostics and surgical businesses growing organically double-digits in constant currency, excluding COVID,” President and CEO Steve MacMillan said in a release.
“Excluding COVID” being the key words: The company’s diagnostics division posted $950.4 million in sales alone during the same period at the end of 2021, with about two-thirds coming from coronavirus tests, including those sold for Hologic’s Panther lines of high-throughput lab hardware.
For the end of 2022, that total shrank 41.2% to $559.3 million; but diagnostics sales minus COVID, meanwhile, grew 12.2% from $345.5 million up to $387.7 million.
Elsewhere, Hologic saw gains in its gynecologic surgery division of 14.7%, increasing from $134.3 million to $154.1 million. However, the company also divulged declines in its breast and skeletal health sales.
Still, MacMillan said sales of the company’s mammography and breast biopsy hardware are continuing to recover, with a $334.2 million haul outpacing previous forecasts. That’s down 7% compared to the $359.3 from the prior year.