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HOLOGIC, INC. ANNOUNCES YEAR-END AND FOURTH QUARTER 1993 RESULTS

 WALTHAM, Mass., Nov. 18 /PRNewswire/ -- Hologic, Inc. (NASDAQ: HOLX) today announced that total revenues for the fiscal year ended Sept. 25, 1993 were $24,848,396, compared to $26,269,648 for fiscal 1992. Hologic recognized a net loss of $1,774,840, or 45 cents per share, for fiscal 1993 which includes a non-recurring restructuring charge. Hologic's net loss for fiscal 1993 before the restructuring charge was $874,837, or 22 cents per share, as compared to net income of $1,479,033, or 37 cents per share, for the previous fiscal year.
 In the fourth quarter ended Sept. 25, 1993 Hologic recognized a restructuring charge of $900,000, or 23 cents per share. This one-time charge will cover consolidation of the company's European distribution and administrative infrastructure, a write-off of certain assets including receivables and inventory and a slight reduction in the European headcount. The charges from this restructuring are a result of the current weak European economy and the company's desire to reallocate its resources to expanding territories with greater future prospects.
 For the fourth quarter ended Sept. 25, 1993, total revenues were $6,343,896, a decrease from total revenues of $7,185,295 for the comparable quarter of the prior year. The restructuring charge caused Hologic to report a net loss of $955,280, or 24 cents per share, compared to net income of $21,979, or 1 cent per share, for the comparable quarter of the prior year. Absent the restructuring charge, the company's net loss for the current quarter was $55,280.
 "In the past year, we invested heavily in the development of new products and applications, in the cultivation of new sales territories and in introducing into our distribution system other medical products in response to the lack of expanding demand in the bone densitometry market," said, S. David Ellenbogen, president and CEO. The market for medical technology remained sluggish throughout the year as a result of the uncertainty over future healthcare reimbursement levels, the lack of new osteoporosis drug approvals in the U.S. and the recession in Europe. "Although this strategy required an investment of time and capital resources, we expect Hologic will begin to fully realize the benefits of these initiatives in fiscal 1994," commented Ellenbogen.
 "Investing in research and development has always been an integral part of Hologic's strategy to bring a continuing series of new technology to market," said Ellenbogen. "We will continue with this strategy since our long-term performance will be based on our ability to meet the changing needs of customers in this evolving market. We will continue to evaluate potential diversification opportunities in medical markets in an effort to balance the current sluggish conditions affecting bone densitometry."
 Hologic remains encouraged about the long-term prospects for the bone densitometry market due to the increase in regional approvals for the reimbursement of bone density examinations and the amount of resources being allocated by the pharmaceutical companies to the development of new osteoporosis therapeutics. However, the timing of when these new drugs will reach the market is uncertain and, as a result, management believes the sluggish conditions will continue in the near term.
 Hologic, Inc. develops, manufactures and markets proprietary x-ray systems. With more than 1,500 installations worldwide, the company's QDR and DTX bone densitometers are used for the precise measurement of bone density to assist in the diagnosis and monitoring of osteoporsis and other metabolic diseases. Osteoporis, a condition characterized by decreased bone density and increased risk of fractures, occurs in at least one of three women over the age of 65.
 HOLOGIC, INC. AND SUBSIDIARIES
 Consolidated Statements of Income
 Three Months Ended Twelve Months Ended
 Sept. 25, Sept. 30, Sept. 25, Sept. 30,
 1993 1992 1993 1992
 (Unaudited) (Audited)
 Revenues:
 Product sales $6,174,557 $7,112,112 $24,139,565 $26,196,465
 Research and develop-
 ment contract --- 46,933 --- 46,933
 Other revenue 169,339 26,250 708,831 26,250
 Total 6,343,896 7,185,295 24,848,396 26,269,648
 Costs and Expenses:
 Cost of product sales 3,663,637 3,715,941 13,729,012 13,469,019
 Research and
 development 871,937 1,009,898 3,182,412 3,607,942
 Selling and marketing 1,193,722 1,590,262 5,472,413 4,691,917
 General and
 administrative 843,703 957,478 3,500,998 3,131,733
 Restructuring charge 900,000 --- 900,000 ---
 Total 7,472,999 7,273,579 26,784,835 24,900,611
 Income (loss) from
 operations (1,129,103) (88,284) (1,936,439) 1,369,037
 Interest income 71,384 89,460 300,468 501,704
 Other income (loss) (33,561) 20,803 (438,869) 231,292
 Income (loss) before
 provision for
 income taxes (1,091,280) 21,979 (2,074,840) 2,102,033
 Provision (benefit)
 for income taxes (136,000) --- (300,000) 623,000
 Net income (loss) $(955,280) $21,979 $(1,774,840) $1,479,033
 Net inc. per common and
 common equivalent share:
 Primary (24 cents) 1 cent (45 cents) 37 cents
 Weighted avg. number of
 com. and com. equivalent
 shares outstanding:
 Primary 3,946,390 4,049,044 3,930,068 4,050,433
 HOLOGIC, INC. AND SUBSIDIARIES
 Consolidated Balance Sheets
 (Audited)
 Assets
 Sept. 25, Sept. 30,
 1993 1992
 CURRENT ASSETS:
 Cash and cash equivalents $6,688,506 $2,369,978
 Short-term investments 3,440,175 8,177,096
 Accounts receivable,
 less reserve of $195,000 5,426,117 5,157,666
 Inventories 3,918,271 4,313,216
 Prepaid expenses and
 other current assets 920,978 986,642
 Total current assets 20,394,047 21,004,598
 PROPERTY AND EQUIPMENT, at cost:
 Equipment 1,535,754 1,427,739
 Furniture and fixtures 513,169 441,359
 Leasehold improvements 349,390 362,178
 Total 2,398,313 2,231,276
 Less-Accumulated depreciation
 and amortization 1,255,711 874,643
 Total 1,142,602 1,356,633
 Other assets, net 629,475 333,386
 Total $22,166,124 $22,694,617
 LIABILITIES AND STOCKHOLDERS' EQUITY
 Sept. 25, Sept. 30,
 1993 1992
 CURRENT LIABILITIES:
 Accounts payable $1,830,821 $1,476,897
 Accrued expenses 3,189,811 2,314,981
 Deferred revenue 833,273 785,979
 Total current liabilities 5,853,905 4,577,857
 STOCKHOLDERS' EQUITY:
 Common stock, $.01 par value-
 Authorized - 10,000,000 shares
 Issued and outstanding - 3,946,417
 and 3,906,100 shares at
 Sept. 25, 1993 and Sept. 30, 1992
 respectively 39,464 39,061
 Capital in excess of par value 13,884,437 13,824,437
 Cumulative translation adjustment (167,579) (77,475)
 Retained earnings 2,555,897 4,330,737
 Total stockholders' equity 16,312,219 18,116,760
 Total $22,166,124 $22,694,617
 -0- 11/18/93
 /CONTACT: S. David Ellenbogen, president, or Glenn Muir, vice president/finance, both of Hologic, 617-890-2300/
 (HOLX)


CO: Hologic, Inc. ST: Massachusetts IN: MTC SU: ERN

JL-DJ -- NE002 -- 5857 11/18/93 08:20 EST
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