Good earnings & Buying a compay @ $82 a share! $19 NOW!
Hologic reports EPS in-line, revs in-line; guides Q3 EPS slightly below consensus, revs below consensus; reaffirms FY12 revs guidance; reaffirms FY13 EPS guidance; to acquire GPRO in an accretive transaction (see 6:33) (HOLX) 21.23 : Reports Q2 (Mar) earnings of $0.33 per share, excluding non-recurring items, in-line with the Capital IQ Consensus Estimate consensus of $0.33; revenues rose 7.4% year/year to $471.2 mln vs the $473.83 mln consensus. Co issues slight downside guidance for Q3, sees EPS of ~$0.34 vs. $0.35 Capital IQ Consensus Estimate; sees Q3 revs of $475-480 mln, excluding non-recurring items, vs. $482.29 mln Capital IQ Consensus Estimate. Co reaffirms guidance for FY12, sees FY12 revs of $1.9-$1.925 bln vs. $1.92 bln Capital IQ Consensus Estimate. Co reaffirms guidance for FY13, sees EPS of $1.36-1.38, excluding non-recurring items, vs. $1.52 Capital IQ Consensus Estimate. Co may not generate expected revenues and may incur expenses or charges or realize income or gains in fiscal 2012 that could cause actual results to vary from the guidance above. In addition, the Company is continuing to monitor the effects of the U.S., European and general worldwide economic and regulatory conditions and related uncertainties, including the implementation of healthcare cost containment measures and healthcare reform legislation, as well as foreign currency fluctuations, which, along with other uncertainties facing the Company's business including those referenced elsewhere herein and its filings with the Securities and Exchange Commission, could adversely affect anticipated results. "We are once again very pleased we experienced year-over-year revenue growth in all four of our business segments and our operating results were in-line with expectations, given the second quarter is historically our slowest as a result of resetting deductibles and the timing of orders for capital equipment."
6:33AM Gen-Probe to be acquired by Hologic (HOLX) for $82.75/share in cash; HOLX expects transaction to be $0.20 accretive to adjusted EPS in first fiscal year after close (GPRO) 68.70 : Cos announced that their Boards of Directors have unanimously approved a definitive agreement under which Hologic (HOLX) will acquire all of the outstanding shares of Gen-Probe for $82.75 per share in cash, or a total enterprise value of ~ $3.7 bln. The all-cash transaction is expected to be funded through available cash and additional financing of term loans and high yield securities. The transaction is expected to be completed in the second half of calendar 2012. The transaction is expected to be $0.20 accretive to Hologic's adjusted earnings per share in the first fiscal year after close and significantly more accretive thereafter. Hologic also expects the transaction to accelerate top and bottom line growth rates. The combined company expects to realize approximately $75 million in cost synergies within three years following the close of the transaction. In addition, the combined company expects to have strong free cash flows, which will be used primarily to reduce debt with the expectation to return to pre-transaction leverage levels within three years.
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