Hologic Inc. (NASDAQ:HOLX) Q3 2020 Earnings Conference Call - Final Transcript

Jul 29, 2020 • 04:30 pm ET


Hologic Inc. (NASDAQ:HOLX) Q3 2020 Earnings Conference Call - Final Transcript


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Good afternoon, and welcome to Hologic's Third Quarter Fiscal 2020 Earnings Conference Call. My name is Cody, and I'm your operator for today's call. [Operator Instructions] [Operator Instructions]

I would now like to introduce Mike Watts, Vice President, Investor Relations and Corporate Communications to begin the call. Please go ahead, sir.

Michael Watts

Thank you, Cody. Good afternoon, and thanks for joining us for Hologic's Third Quarter Fiscal 2020 Earnings Call. With me today are Steve MacMillan, the company's Chairman, President and CEO; and Karleen Oberton, our Chief Financial Officer. Steve and Karleen both have some prepared remarks today, then we'll have a question-and-answer session. Our third quarter press release is available now on the Investors section of our website.

We also will post our prepared remarks to our website shortly after we deliver them. Finally, a replay of this call will be archived through August 21. Before we begin, I'd like to inform you that certain statements we make during this call will be forward-looking. These statements involve known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied. Such factors include those that are referenced in our safe harbor statement that's included in our earnings release and in our filings with the SEC.

Also during this call, we will be discussing certain non-GAAP financial measures. A reconciliation to GAAP can be found in our earnings release. One of these non-GAAP measures is organic revenue. As a reminder, we're defining organic revenue as constant currency revenue less the divested blood screening and Cynosure businesses as well as the acquired SuperSonic Imagine business. Finally, any percentage changes that we discuss will be on a year-over-year basis, and revenue growth rates will be expressed in constant currency, unless otherwise noted.

Now I'd like to turn the call over to Steve MacMillan, Hologic's CEO.

Stephen P. MacMillan

Thank you, Mike, and good afternoon, everyone. We're pleased to discuss our financial results for the third quarter of fiscal 2020. Our results were very strong and reflect the value of our unique set of businesses in a time of great economic uncertainty. To begin, these last several months have been the most challenging, tumultuous and unpredictable time of my career, but also the most exhilarating and ultimately gratifying. There is still a lot of history to be written regarding this pandemic, and things can change very quickly in COVID time.

But we're very pleased with the significant contributions Hologic has made to human health thus far and excited about our ability to do even more. I am just so proud of our team who are working day and night with customers, regulators, suppliers, elected officials and others to address the most pressing problem facing the world today. In the last couple of years, we've talked a lot about social responsibility and Hologic's corporate purpose: to enable healthier lives everywhere, every day.

It is this purpose that inspired our people to do more than seemed possible in the third quarter of fiscal 2020.