through walking non-GAAP by full afternoon, Thank you, good for finish comments touch key then metrics, several fiscal today, everyone. QX statement, I start rest on and and of financial guidance my the our Essex, the our In will and year. with income
by we share X%. begin per me grow X% non-GAAP earnings grew this are revenue pleased to only Let quarter saying when by
we generate clearly will, you can leverage at Although revenue operating time. substantial we the earnings that us believe want gives and rate grow confidence this we grow it over a faster to demonstrates double-digit can and
gross favorable So non-GAAP of margin product was operating Start, and did the that result do points. how expansion efficiencies. This basis increased we of primarily XX.X% in XX first quarter? the margin mix
Moving P&L. down the
$XXX million, of X.X%. increased expenses operating quarter approximately First
driven highest QX was several by commercial large Endomagnetics. the due represents initiatives. addition our level Despite of As to expense a year usually of the this, year-over-year the operating for increase reminder,
Endomagnetics, expenses operating have Excluding X.X%. would decreased
basis operating good This expenditure. margin drop-through margin at quarter from expansion gross our primarily of XX higher representing points. XX.X%, First an margin increase came operating finished and of
from said, EPS and strong already P&L leveraging key Steve margin a best-in-class the focus. growth drive expansion to As modest remains levels
income our operating of by the our was better million. foreign hedging to fiscal than This net income, $X Below expected more other program. exchange loss quarter first in due than result slightly benefit
reminder, program fluctuations. to minimize of this or impact a bottom As the positive hedging currency seeks line negative
value. and Medtech long-term we Finally, rate to very the year our to expected. future, the our have relative flat Altogether, was use and continue in ourselves sheet to tax quarter and to peers. shareholder for prior in confidence our our Because XX.X%, on QX tremendous we balance approximately net strong margin enhance as was bet diagnostics XX.X%
In announced our million the million X.X for the total first call. ASR of earnings of we including million, completion shares a quarter, the on $XXX repurchased QX $XXX
compared our weighted of result, to count share million million, $XXX brought shares a a we prior down average year. decrease As the diluted X to
per this of share end All earnings were non-GAAP deliver at our led guidance pleased of which $X.XX, to the to range. we of high
our investments on bottom quarter drive to quarter, execute both first continue positioned flow to billion in cash deployment in end the balance strategy top sheet With strong the are operating the our to cash $XXX of and million of and line growth. capital $X well we at and
the second on our early non-GAAP fiscal environment the by since let's start Now full half. dramatic first macro and to acknowledging move we in the like guidance in I'd for shift year updated financial to geopolitical November. for the provided guidance and
As administration strengthening we both are impact and seeing changes U.S. everyone immediate dollar. in policy from new terms knows, a an U.S., in the the of
also Entering new the our for have our are XXXX. year. expectations reset landscape Combining end year, the calendar pieces to using together, visibility for financial we greater these market on this opportunity we
$X.XX. million range we full revenue billion, are our the year, to guidance our $X.XX billion EPS to For but by maintaining guidance non-GAAP $XXX $X.XX $X.XX we to are lowering of
$XX well, our Gynesonics' businesses Diagnostics are million roughly results. Our Surgical reported of adding and we to are revenue and performing
baking However, headwind our we have expect for $XX a our early we everyone November. X expectations, million a million strengthening FX represent are from more are reduced dollar which into original developments This to the the today. by of being $XX First, else, guidance significant U.S. a represents positive these than swing We offset experienced of like of year. factors: since full now
of sale capital lower expecting for are year. we the Breast Second, our Health
As to XXXX, picture which X is market, clear next-generation Essex of that gantry a have detailed, the aggressive led ways for a off. our still especially forecast we gantry considering didn't
in are potential our new changes two introducing the policy U.S. Third, business. in uncertainty administration
testing countries. developing President's HIV The affected our partner AID for far. First, for the main Release has or Plan Emergency in pet F&D on freeze
been revenue balance could fiscal by life-saving work the disruption $XX the has on on our much an far do, they million have affect of still as Pet exemption Although granted disrupted. based the for activities as year. ground This our been
make our in and Second, contract products. Mexico Gynesonics manufacturers skeletal
be gross So to we tariffs as subject into them margins our the lower States. we could United that import
delayed Although and risk for tariffs to believe the businesses these is been have are we the for relatively our appropriate impact. forecast our small pieces it of now, adjust potential
are are line we bottom as to capabilities impact our the EPS headwinds, maintaining financial $X.XX an year $X.XX. these we've enabling to and issues. of strong Despite us established full guidance mitigate The discipline of organization these
the quarter, of second and total to are revenues the $XXX million a the FX headwind billion, to non-GAAP For $X $X.XXX million EPS of expecting in including range in we $XX range $X.XX.
additional guidance. provide me Now some our let details that underpin
In terms improve expect pacing, in revenue we to our the of growth further quarter rate and third quarterly QX. in
should year on we quarterly So the exit target above a basis. our long-term mid-single-digit
In excluding grow terms of we Diagnostics to the sales. the divisions, of mid-single digits impact for the COVID-XX expect year, declining
forecast women's assays will in be Biotheranostics' by lab driven our testing. strength continue growth health We to and molecular that
expect COVID year. million about quarter we million year. For $XXX million second full $XX in revenue, about second the approximately million and to $X to the and quarter are for be assay COVID-related be in the for expected approximately items the sales $XX
$XX $X million revenue led screen Finally, year. full in in million about QX the we expect for Diagnostics, and about
are screening growth organic out and of calculation. As know, led both COVID-related backed revenue you sales our
in Breast lowering with QX this expect to now the on full Within are year in year-over-year our for half full fiscal single business exit however, the the low including as decline sales. softer based We in mentioned, capital we expectations for digits second We to equipment we growth good build the growth our revenue year. expect year, Endomagnetics. do, Health, as
expect MyoSure high contributions the business, we be powered fluid. Gynesonics the growth U.S. for our Surgical, by surgical quarters. expect X international in the our Lastly, with core year the in for for In to results single-digit of in inclusion with growth we
P&L. to Moving the
We the margins XXs higher up in anticipate Health, step gross gross low margin expect with redundant for manufacturing second half in in of Endomagnetics. sales the and the sales to elimination in full year. We the facilities Breast
the net made in the as QX, other the expense the and million which For margin operating XXs $XX million income, an full $XX expansion in for income $XX fiscal be to full year, to an margin, in we're million move with expecting be $XX between year. year. to million operating steady for Below expense of we low through
of shares year. To activity full our approximately for effective share Our rate unchanged the we $XXX reflect in year tax QX, outstanding million expected are for repurchase the means from guidance. diluted be to prior full approximately completed XX.X% the
To to be to we our largely while new and nature, have the the innovation transitory financial retain continuing about in grow growth conclude, top position drivers ability our line meet a business the strength through us are to in We add market-leading healthy discipline internal expect EPS each we we're for and and of our seeing as growth pressures by outlook year. long-term line. commitments believe to and even our driven these pressure year where We exit divisions, our on great in positions a feel development. top
call With operator that, ask the we the for to open questions.
