Varex Imaging Corp - VREX STOCK NEWS

Varex Imaging (Nasdaq: VREX) has launched two new digital radiography detectors: the LUMEN HD and LUMEN HD Pro. These detectors are designed to address modern healthcare imaging demands with key features including reliability for uninterrupted high-quality imaging, faster image production for improved workflow efficiency, and user-friendly operation with ergonomic design. The LUMEN family offers configurable options to meet specialized healthcare requirements while maintaining cost-effectiveness through competitive pricing and customizable features.

Varex Imaging (VREX) reported Q4 FY24 revenues of $206 million, marking a 10% year-over-year decrease. The Medical segment revenue fell 12% to $144 million, while Industrial revenue declined 4% to $61 million. Q4 GAAP net earnings were $(1.22) per diluted share, with non-GAAP earnings at $0.19. For full FY24, revenues reached $811 million with cash flow from operations of $47 million. The company ended the fiscal year with $213 million in cash and marketable securities. Looking ahead, Q1 FY25 guidance projects revenues between $195-215 million with non-GAAP earnings per share between -$0.05 and $0.10.

Varex Imaging (Nasdaq: VREX) has announced it will release its fourth quarter and fiscal year 2024 unaudited financial results after market close on Tuesday, November 19, 2024. The company will host a conference call at 3:00 pm Mountain Time on the same day. The call will be accessible via webcast on the company's investor relations website and through dial-in numbers for both U.S. and international participants. A replay will be available from November 19th through December 3rd.

Varex Imaging (Nasdaq: VREX) announced its unaudited financial results for the third quarter of fiscal year 2024. The company reported revenues of $209 million, down 10% year-over-year. The Medical segment revenue declined 15% to $149 million, while the Industrial segment revenue rose 6% to $60 million. GAAP net earnings were $0.03 per diluted share, and Non-GAAP net earnings were $0.14 per diluted share, down from $0.37 YOY. The GAAP gross margin was 32%, consistent with the non-GAAP gross margin, both down from 34% a year ago. Cash flow from operations was $8 million. Varex holds $192 million in cash and equivalents. The guidance for Q4 FY2024 expects revenues between $190 million and $210 million, with non-GAAP net earnings per diluted share between $0.00 and $0.15. CEO Sunny Sanyal attributed the results to the strength in the cargo inspection business.

Varex Imaging (Nasdaq: VREX) has announced its schedule for reporting third quarter fiscal year 2024 unaudited financial results. The earnings release will be on Thursday, August 1, 2024, after regular trading hours, followed by a conference call at 3:00 pm Mountain Time. Investors can access the call via webcast or phone, with replay options available until August 15th.

Varex, with a 70+ year history, is a leading innovator in X-ray imaging components, including X-ray tubes, digital detectors, and image processing solutions. The company's products are used in medical, industrial, and security imaging applications. Varex employs about 2,300 people globally and is headquartered in Salt Lake City, Utah.

Varex Imaging (Nasdaq: VREX) announced its participation in three upcoming investor conferences. The company's management will attend the Jefferies Global Healthcare Conference in New York on June 6, 2024, at 9:00 am ET, the Goldman Sachs 45th Annual Global Healthcare Conference in Miami on June 10, 2024 (1x1 meetings only), and the Sidoti June 2024 Virtual Small Cap Conference on June 13, 2024, at 10:45 am ET. These events can be accessed via the Varex Imaging website.

Varex Imaging (Nasdaq: VREX) announced its unaudited financial results for the second quarter of fiscal year 2024, with revenues of $206 million. The GAAP gross margin was 32%, while the Non-GAAP gross margin stood at 33%. GAAP net earnings were $0.03 per diluted share, and Non-GAAP net earnings were $0.16 per diluted share. Cash flow from operations was $3 million. The company reported a 10% year-over-year decrease in revenue, primarily due to lower sales in China. The medical segment revenue was down 15%, while the industrial segment revenue was up 6%. Non-GAAP gross margin was 33%, with Non-GAAP EPS decreasing to $0.16 from $0.26 in the previous year. Cash, cash equivalents, marketable securities, and CDs totaled $190 million at the end of the quarter. The company provided guidance for the third quarter, expecting revenues between $200 million and $220 million and Non-GAAP net earnings per diluted share between $0.05 and $0.25.

Varex Imaging (Nasdaq: VREX) has scheduled the release of its unaudited financial results for the second quarter of fiscal year 2024 on May 2, 2024, after the close of regular trading. A conference call will follow at 3:00 pm Mountain Time, which can be accessed via webcast on the company's website. Investors in the U.S. can also dial in at 877-524-8416, and those outside the U.S. can call 412-902-1028. The webcast will be archived on the website, with a replay available until May 16th at 877-660-6853 or 201-612-7415.

Varex Imaging (VREX) has secured a senior secured revolving credit agreement worth up to $155 million. The agreement aims to enhance liquidity for working capital and general corporate purposes, potentially aiding in debt repayment.