Hologic pares 2009 outlook on hospital cutbacks

BEDFORD, Mass. - Medical test instrument maker Hologic Inc. lowered its fiscal 2009 profit and revenue estimates Monday, saying sales of its Selenia digital mammography system are being hurt by cutbacks in hospital spending.

Hologic now expects full-year profit of $1.10 to $1.15 per share, excluding one-time items, on $1.63 billion to $1.68 billion in revenue. In November, it forecast a profit of $1.22 to $1.24 per share on $1.83 billion to $1.85 billion in revenue.

For the 12 months ending in September, analysts surveyed by Thomson Reuters expect a profit of $1.18 per share and $1.76 billion in revenue, on average.

Hologic's first-quarter results edged past analyst expectations, but the company said Selenia sales were affected by delays and reduced spending.

The company also issued a disappointing fiscal second-quarter outlook. It estimates adjusted profit of 26 cents to 28 cents per share and $400 million to $410 million in revenue. That's below Wall Street's average forecast for earnings of 29 cents per share and $434.7 million in revenue.

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