Hologic Inc (NASDAQ:HOLX) recently reported its first quarter earnings and discussed the following topics in its earnings conference call.
Breast Health Outlook
Tycho Peterson – JPMorgan: You had called out a couple of things Sandy and the ongoing headwinds from the end of film to digital transitions can you just talk more specifically about the outlook for Breast Health. Where are we in this cycle and what are some of the underlying trends in particular for the 2D business?
Glenn P. Muir – EVP, Finance and Administration and CFO: The good news as we indicated is that the market seems to be rapidly gravitating towards 3D what that does in the short term is put certainly some headwinds on the 2D business relative to the normal replacement cycle. I think customers are waiting to buy 3D and I think that things like the Oslo study are giving them the kind of initiation that they need to go get budget approvals and I also believe that the further we penetrate into that market the competitive dynamic that’s being created by the broader adoption of tomo is causing more and more customers to buy the products. So, what we’re seeing is been, and as we talked about even last quarter, there may be some lumpiness in this early period of the rollout of this new piece of capital equipment, but all of the indicators appear very, very positive. As a matter of fact that we, in our last call, said that we would nearly double the installed base in this fiscal year and we are saying today that we will, at a minimum, double our installed base of tomo products in the U.S. because we feel much more confident about the rollout of the product.
Tycho Peterson – JPMorgan: Then maybe just a quick follow-up, can you talk about service dynamics there? Obviously you are installing or upgrading the installed base, how do we think about the service business, does that begin to slow once you move past the bolus of upgrades?