The company, which is headquartered here, will close the Hologic Systems Division manufacturing facility in Littleton and says it will relocate certain of its product lines and personnel to the facility here. This closure is part of the company's move to phase out its conventional radiographic systems and invest in the development of direct radiography systems and plates.
In a released statement, John W. Cumming, the company's CEO, says, "We expect additional cost-savings from our European operations as a result of our strategic alliance with SEDECAL and its distribution divisions. We believe the future of the diagnostic imaging market is digital and our customers and shareholders will be better served through our continued investment in the development of digital imaging."
In its fourth quarter earnings statement, Hologic took a restructuring charge of approximately $1 million--mainly because of severance costs--in the first quarter of fiscal 2002, which ends December 29, 2001. The company lost $4.93 million, down from a loss of $10.9 million, for the corresponding quarter last year. Revenues were $45.3 million, compared with revenues of $27.1 million for the corresponding quarter a year ago.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
