Hologic lowers FY18 tax rate view to about 23%-24%
Primarily as a result of the recent passage of comprehensive U.S. tax reform legislation, the company expects its non-GAAP effective tax rate to be approximately 23% to 24% in fiscal 2018, lower than its prior guidance of approximately 31%. The Company expects its GAAP effective tax rate to be negative for the year, largely based on the revaluation of its deferred taxes, but this analysis is ongoing. "We expect to post solid first quarter revenue just above our guidance range, driven by strength in our breast health, molecular diagnostics and international businesses," said Steve MacMillan, Hologic's Chairman, President and CEO. "In addition, U.S. tax reform will allow us to achieve a lower effective tax rate in fiscal 2018, increasing our profitability while simultaneously providing opportunities to re-invest in the business to drive future growth."